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Supplemental Information on Oil and Gas Producing Activities (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Capitalized Costs, Along with the related Accumulated Depreciation and Allowances

The following tables set forth capitalized costs, along with the related accumulated depreciation and allowances as of December 31, 2023, 2022 and 2021:


	2023						2022						2021
Consolidated capitalized costs	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide

Proved oil and gas properties
Mineral property, wells and related equipment (1)		53,052		-		53,052		49,698		-		49,698		47,792		-		47,792
Support equipment and facilities (2)		2,257		-		2,257		1,827		-		1,827		1,644		-		1,644
Drilling and work in progress		3,774		-		3,774		2,638		-		2,638		1,949		-		1,949
Unproved oil and gas properties		264		-		264		173		-		173		221		-		221

Total capitalized costs		59,347		-		59,347		54,336		-		54,336		51,606		-		51,606
Accumulated depreciation and valuation allowances (3)		(48,382)		-		(48,382)		(43,440)		-		(43,440)		(41,679)		-		(41,679)

Net capitalized costs		10,965		-		10,965		10,896		-		10,896		9,927		-		9,927

(1)	Includes 696, 524 and 423 corresponding to Upstream wells related equipment contracts comprised in right-of-use assets as of December 31, 2023, 2022 and 2021, respectively.

(2)	Includes 521, 351 and 271 corresponding to Upstream support equipment and facilities contracts comprised in righ t -of-use assets as of December 31, 2023, 2022 and 2021, respectively.

(3)	Includes (762), (566) and (383) corresponding to accumulated depreciation of all Upstream contracts of right-of-use assets as of December 31, 2023, 2022 and 2021, respectively.

Costs Incurred for Oil and Gas Producing Activities

The following tables set forth the costs incurred for oil and gas producing activities during the years ended December 31, 2023, 2022 and 2021:


	2023						2022						2021
Consolidated costs incurred	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide

Acquisition of unproved properties		-		-		-		-		-		-		-		-		-
Acquisition of proved properties		-		-		-		-		-		-		-		-		-
Exploration costs		156		1		157		80		2		82		44		2		46
Development costs (1)		4,370		-		4,370		3,138		-		3,138		1,938		-		1,938

Total costs incurred		4,526		1		4,527		3,218		2		3,220		1,982		2		1,984

(1)	Includes 313, 223 and 123 corresponding to development cost related to Upstream contracts comprised in right-of-use assets as of December 31, 2023, 2022 and 2021, respectively.

Results of Operations from Oil and Gas Producing Activities

Differences between these tables and the amounts shown in Note 5 “Business segment information”, for the Upstream segment, relate to additional operations that do not arise from those properties held by the Group.


	2023						2022						2021
Consolidated results of operations	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide

Net sales to unaffiliated parties		33		-		33		51		-		51		49		-		49
Net intersegment sales		7,211		-		7,211		7,134		-		7,134		5,820		-		5,820

Total net revenues		7,244		-		7,244		7,185		-		7,185		5,869		-		5,869
Production costs		(4,148)		-		(4,148)		(3,712)		(1)		(3,713)		(2,921)		(2)		(2,923)
Exploration expenses		(60)		(1)		(61)		(63)		(2)		(65)		(27)		(2)		(29)
Depreciation of property, plant and equipment; intangible and right-of-use assets		(2,567)		-		(2,567)		(2,075)		-		(2,075)		(2,378)		-		(2,378)
Impairment of Property, plant and equipment		(2,288)		-		(2,288)		(123)		-		(123)		(115)		-		(115)
Other (1)		(179)		-		(179)		82		1		83		(306)		9		(297)

Pre-tax income (loss) from producing activities		(1,998)		(1)		(1,999)		1,294		(2)		1,292		122		5		127
Income tax expense / benefit		699		-		699		(453)		-		(453)		(43)		-		(43)

Results of oil and gas producing activities		(1,299)		(1)		(1,300)		841		(2)		839		79		5		84

(1)	Mainly includes lawsuits, result from assignment of areas and financial accretion for the hydrocarbon wells abandonment obligations, among others.

Summary of Standardized Measure of Discounted Future Net Cash Flows

The standardized measure does not purport to be an estimate of the fair market value of the Group’s proved reserves. An estimate of fair value would also take into account, among other things, the expected recovery of reserves in excess of proved reserves, anticipated changes in future prices and costs and a discount factor representative of the time value of money and the risks inherent in producing oil and gas.


	2023						2022						2021
Consolidated standardized measure of discounted future net cash flows	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide

Future cash inflows		41,735		-		41,735		48,580		-		48,580		50,843		-		50,843
Future production costs		(18,683)		-		(18,683)		(22,076)		-		(22,076)		(22,509)		-		(22,509)
Future development costs		(11,136)		-		(11,136)		(10,936)		-		(10,936)		(8,957)		-		(8,957)
Future income tax expenses		(3,396)		-		(3,396)		(3,808)		-		(3,808)		(5,286)		-		(5,286)
10% annual discount for estimated timing of cash flows		(4,013)		-		(4,013)		(4,658)		-		(4,658)		(5,036)		-		(5,036)

Total standardized measure of discounted future net cash flows		4,507		-		4,507		7,102		-		7,102		9,055		-		9,055

Summary of Changes in the Standardized Measure of Discounted Future Net Cash Flows

The following table reflects the changes in standardized measure of discounted future net cash flows for the years ended December 31, 2023, 2022 and 2021:


	2023		2022		2021
Beginning of year		7,102		9,055		2,133
Sales and transfers, net of production costs		(1,819)		(3,173)		(850)
Net change in sales and transfer prices, net of future production costs		(1,624)		(2,862)		3,396
Changes in reserves and production rates (timing)		(1,390)		(574)		5,013
Net changes for extensions, discoveries and improved recovery		2,782		4,722		3,329
Changes in estimated future development and abandonment costs		(3,734)		(3,481)		(1,946)
Development costs incurred during the year that reduced future development costs		1,996		1,439		990
Accretion of discount		984		806		241
Net change in income taxes		211		1,148		(3,255)
Others		(1)		22		4

End of year		4,507		7,102		9,055

Oil and Condensate [Member]

Statement [Line Items]

Summary of Changes in YPF's Net Proved Reserves

Changes in YPF’s estimated net proved reserves

The table below sets forth information regarding changes in YPF’s net proved reserves for the year ended as of December 31, 2023, 2022 and 2021, by hydrocarbon product:


	For the year ended December 31,
	(millions of barrels)
	2023						2022						2021
	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide
Oil and condensate
Consolidated entities
As of January 1,		606		-		606		643		-		643		483		-		483
Developed		262		-		262		322		-		322		229		-		229
Undeveloped		344		-		344		321		-		321		254		-		254
Revisions of previous estimates (1)		(63)		-		(63)		(72)		-		(72)		161		-		161
Extensions and discoveries		75		-		75		125		-		125		76		-		76
Improved recovery		17		-		17		(7)		-		(7)		*		-		*
Purchase of minerals in place		-		-		-		-		-		-		*		-		*
Sale of minerals in place		-		-		-		-		-		-		-		-		-
Production for the year (2)		(89)		-		(89)		(83)		-		(83)		(77)		-		(77)

As of December 31, (3)		546		-		546		606		-		606		643		-		643
Developed		263		-		263		262		-		262		322		-		322
Undeveloped		283		-		283		344		-		344		321		-		321
Equity-accounted entities
As of January 1,		-		-		-		-		-		-		-		-		-
Developed		-		-		-		-		-		-		-		-		-
Undeveloped		-		-		-		-		-		-		-		-		-
Revisions of previous estimates (1)		-		-		-		-		-		-		-		-		-
Extensions and discoveries		-		-		-		-		-		-		-		-		-
Improved recovery		-		-		-		-		-		-		-		-		-
Purchase of minerals in place		-		-		-		-		-		-		-		-		-
Sale of minerals in place		-		-		-		-		-		-		-		-		-
Production for the year (2)		-		-		-		-		-		-		-		-		-

As of December 31, (3)		-		-		-		-		-		-		-		-		-
Developed		-		-		-		-		-		-		-		-		-
Undeveloped		-		-		-		-		-		-		-		-		-


	For the year ended December 31,
	(millions of barrels)
	2023						2022						2021
	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide
Oil and condensate
Consolidated and Equity-accounted entities
As of January 1,
Developed		262		-		262		322		-		322		229		-		229
Undeveloped		344		-		344		321		-		321		254		-		254

Total		606		-		606		643		-		643		483		-		483
As of December 31,
Developed		263		-		263		262		-		262		322		-		322
Undeveloped		283		-		283		344		-		344		321		-		321

Total		546		-		546		606		-		606		643		-		643

* Not material (less than 1).

(1)	Revisions in estimates of reserves are performed at least once a year. Revisions of oil and gas reserves are considered prospectively in the calculation of depreciation.

(2)	Crude oil production for the years ended on December 31, 2023, 2022 and 2021 includes an estimated of 12, 12 and 11 mmbbl, respectively, in respect of royalty payments which are a financial obligation or are substantially equivalent to a production or similar tax.

(3)	Proved crude oil reserves of consolidated entities for the years ended on December 31, 2023, 2022 and 2021 include an estimated of 72, 82 and 92 mmbbl, respectively, in respect of royalty payments which are a financial obligation or are substantially equivalent to a production or similar tax.

Natural gas [member]

Statement [Line Items]

Summary of Changes in YPF's Net Proved Reserves


	For the year ended December 31,
	(billions of standard cubic feet)
	2023						2022						2021
	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide
Natural gas
Consolidated entities
As of January 1,		2,826		-		2,826		2,447		-		2,447		2,110		-		2,110
Developed		1,637		-		1,637		1,676		-		1,676		1,486		-		1,486
Undeveloped		1,189		-		1,189		771		-		771		624		-		624
Revisions of previous estimates (1)		(80)		-		(80)		(91)		-		(91)		347		-		347
Extensions and discoveries		257		-		257		952		-		952		450		-		450
Improved recovery		-		-		-		1		-		1		*		-		*
Purchase of minerals in place		-		-		-		-		-		-		-		-		-
Sale of minerals in place		-		-		-		-		-		-		-		-		-
Production for the year (2)		(467)		-		(467)		(483)		-		(483)		(460)		-		(460)

As of December 31, (3) (4)		2,536		-		2,536		2,826		-		2,826		2,447		-		2,447
Developed		1,656		-		1,656		1,637		-		1,637		1,676		-		1,676
Undeveloped		880		-		880		1,189		-		1,189		771		-		771
Equity-accounted entities
As of January 1,		-		-		-		-		-		-		-		-		-
Developed		-		-		-		-		-		-		-		-		-
Undeveloped		-		-		-		-		-		-		-		-		-
Revisions of previous estimates (1)		-		-		-		-		-		-		-		-		-
Extensions and discoveries		-		-		-		-		-		-		-		-		-
Improved recovery		-		-		-		-		-		-		-		-		-
Purchase of minerals in place		-		-		-		-		-		-		-		-		-
Sale of minerals in place		-		-		-		-		-		-		-		-		-
Production for the year (2)		-		-		-		-		-		-		-		-		-

As of December 31, (3)		-		-		-		-		-		-		-		-		-
Developed		-		-		-		-		-		-		-		-		-
Undeveloped		-		-		-		-		-		-		-		-		-


	For the year ended December 31,
	(billions of standard cubic feet)
	2023						2022						2021
	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide
Natural gas
Consolidated and Equity-accounted entities
As of January 1,
Developed		1,637		-		1,637		1,676		-		1,676		1,486		-		1,486
Undeveloped		1,189		-		1,189		771		-		771		624		-		624

Total		2,826		-		2,826		2,447		-		2,447		2,110		-		2,110
As of December 31,
Developed		1,656		-		1,656		1,637		-		1,637		1,676		-		1,676
Undeveloped		880		-		880		1,189		-		1,189		771		-		771

Total		2,536		-		2,536		2,826		-		2,826		2,447		-		2,447

* Not material (less than 1).

(1)	Revisions in estimates of reserves are performed at least once a year. Revisions of oil and gas reserves are considered prospectively in the calculation of depreciation.

(2)	Natural gas production for the years ended on December 31, 2023, 2022 and 2021 includes an estimated of 54, 57 and 53 bcf, respectively, in respect of royalty payments which are a financial obligation or are substantially equivalent to a production or similar tax.

(3)	Proved natural gas reserves of consolidated entities for the years ended on December 31, 2023, 2022 and 2021 include an estimated of 292, 335 and 288 bcf, respectively, in respect of royalty payments which are a financial obligation or are substantially equivalent to a production or similar tax.

(4)	Proved natural gas reserves of consolidated entities for the years ended on December 31, 2023, 2022 and 2021 include an estimated of 282, 299 and 337 bcf, respectively, which is consumed as fuel at the field.

Oil equivalent [Member]

Statement [Line Items]

Summary of Changes in YPF's Net Proved Reserves


	For the year ended December 31,
	(millions of barrels of oil equivalent)
	2023						2022						2021
	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide
Oil equivalent (1)
Consolidated entities
As of January 1,		1,187		-		1,187		1,143		-		1,143		922		-		922
Developed		590		-		590		655		-		655		526		-		526
Undeveloped		597		-		597		488		-		488		396		-		396
Revisions of previous estimates (2)		(72)		-		(72)		(87)		-		(87)		216		-		216
Extensions and discoveries		127		-		127		322		-		322		176		-		176
Improved recovery		17		-		17		(7)		-		(7)		*		-		*
Purchase of minerals in place		-		-		-		-		-		-		*		-		*
Sale of minerals in place		-		-		-		-		-		-		-		-		-
Production for the year (3)		(187)		-		(187)		(184)		-		(184)		(171)		-		(171)

As of December 31, (4)		1,072		-		1,072		1,187		-		1,187		1,143		-		1,143
Developed		599		-		599		590		-		590		655		-		655
Undeveloped		473		-		473		597		-		597		488		-		488
Equity-accounted entities
As of January 1,		-		-		-		-		-		-		-		-		-
Developed		-		-		-		-		-		-		-		-		-
Undeveloped		-		-		-		-		-		-		-		-		-
Revisions of previous estimates (2)		-		-		-		-		-		-		-		-		-
Extensions and discoveries		-		-		-		-		-		-		-		-		-
Improved recovery		-		-		-		-		-		-		-		-		-
Purchase of minerals in place		-		-		-		-		-		-		-		-		-
Sale of minerals in place		-		-		-		-		-		-		-		-		-
Production for the year (3)		-		-		-		-		-		-		-		-		-

As of December 31, (4)		-		-		-		-		-		-		-		-		-
Developed		-		-		-		-		-		-		-		-		-
Undeveloped		-		-		-		-		-		-		-		-		-


	For the year ended December 31,
	(millions of barrels of oil equivalent)
	2023						2022						2021
	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide
Oil equivalent
Consolidated and Equity-accounted entities
As of January 1,
Developed		590		-		590		655		-		655		526		-		526
Undeveloped		597		-		597		488		-		488		396		-		396

Total		1,187		-		1,187		1,143		-		1,143		922		-		922
As of December 31,
Developed		599		-		599		590		-		590		655		-		655
Undeveloped		473		-		473		597		-		597		488		-		488

Total		1,072		-		1,072		1,187		-		1,187		1,143		-		1,143

* Not material (less than 1).

(1)	Volumes of natural gas have been converted to barrels of oil equivalent at 5,615 cubic feet per barrel.

(2)	Revisions in estimates of reserves are performed at least once a year. Revisions of crude oil, natural gas liquids and natural gas reserves are considered prospectively in the calculation of depreciation.

(3)

Barrel of oil equivalent production of consolidated entities for the years ended on December 31, 2023, 2022 and 2021 includes an estimated of 24, 24 and 22 mmboe, respectively, in respect of royalty payments which are a financial obligation or are substantially equivalent to a production or similar tax.

(4)

Proved oil equivalent reserves of consolidated entities for the years ended on December 31, 2023, 2022 and 2021 include an estimated of 134, 153 and 151 mmboe, respectively, in respect of royalty payments which are a financial obligation or are substantially equivalent to a production or similar tax.

Natural Gas Liquids [Member]

Statement [Line Items]

Summary of Changes in YPF's Net Proved Reserves


	For the year ended December 31,
	(millions of barrels)
	2023						2022						2021
	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide
Natural gas liquids
Consolidated entities
As of January 1,		77		-		77		64		-		64		63		-		63
Developed		36		-		36		34		-		34		32		-		32
Undeveloped		41		-		41		30		-		30		31		-		31
Revisions of previous estimates (1)		5		-		5		1		-		1		(5)		-		(5)
Extensions and discoveries		8		-		8		27		-		27		19		-		19
Improved recovery		-		-		-		-		-		-		-		-		-
Purchase of minerals in place		-		-		-		-		-		-		-		-		-
Sale of minerals in place		-		-		-		-		-		-		-		-		-
Production for the year (2)		(16)		-		(16)		(15)		-		(15)		(13)		-		(13)

As of December 31, (3)		74		-		74		77		-		77		64		-		64
Developed		41		-		41		36		-		36		34		-		34
Undeveloped		33		-		33		41		-		41		30		-		30
Equity-accounted entities
As of January 1,		-		-		-		-		-		-		-		-		-
Developed		-		-		-		-		-		-		-		-		-
Undeveloped		-		-		-		-		-		-		-		-		-
Revisions of previous estimates (1)		-		-		-		-		-		-		-		-		-
Extensions and discoveries		-		-		-		-		-		-		-		-		-
Improved recovery		-		-		-		-		-		-		-		-		-
Purchase of minerals in place		-		-		-		-		-		-		-		-		-
Sale of minerals in place		-		-		-		-		-		-		-		-		-
Production for the year (2)		-		-		-		-		-		-		-		-		-

As of December 31, (3)		-		-		-		-		-		-		-		-		-
Developed		-		-		-		-		-		-		-		-		-
Undeveloped		-		-		-		-		-		-		-		-		-


	For the year ended December 31,
	(millions of barrels)
	2023						2022						2021
	Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide
Natural gas liquids
Consolidated and Equity-accounted entities
As of January 1,
Developed		36		-		36		34		-		34		32		-		32
Undeveloped		41		-		41		30		-		30		31		-		31

Total		77		-		77		64		-		64		63		-		63
As of December 31,
Developed		41		-		41		36		-		36		34		-		34
Undeveloped		33		-		33		41		-		41		30		-		30

Total		74		-		74		77		-		77		64		-		64

(1)	Revisions in estimates of reserves are performed at least once a year. Revisions of oil and gas reserves are considered prospectively in the calculation of depreciation.

(2)	Natural gas liquids production for the years ended on December 31, 2023, 2022 and 2021 includes an estimated of 2, 2 and 1 mmbbl, respectively, in respect of royalty payments which are a financial obligation or are substantially equivalent to a production or similar tax.

(3)

Proved natural gas liquids reserves of consolidated entities for the years ended on December 31, 2023, 2022 and 2021 include an estimated of 10, 11 and 8 mmbbl, respectively, in respect of royalty payments which are a financial obligation or are substantially equivalent to a production or similar tax.