(Tecpetrol, 25.Jan.2018) — Buenos Aires-based Tecpetrol S.A. and YPF S.A. announced creation of the company “Oleoducto Loma Campana – Lago Pellegrini S.A.,” on January 24, 2018.
The main objective of the company is construction and exploitation of an oil pipe for the transportation of crude oil production of partners and third parties, with entrance located at the crude oil treatment plant in Loma Campana area (province of Neuquén) and exit in the facilities of Oleoducto del Valle S.A. (province of Río Negro), announced Tecpetrol in a financial statement on its website.
YPF owns 85% of the capital of the company, while Tecpetrol owns the remaining 15%.
However, both YPF and Tecpetrol exercise joint control over Oleoducto Loma Campana – Lago Pellegrini S.A., since they appoint the same number of Directors and all decisions about relevant matters must be adopted unanimously, pursuant to the Shareholders’ Agreement, according to Tecpetrol
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