YPF SOCIEDAD ANONIMA (ifrs-full:DisclosureOfInformationAboutConsolidatedStructuredEntitiesExplanatory)


	2017								2016									2015
Oil equivalent ⁽¹⁾	Worldwide			Argentina			Other foreign		Worldwide			Argentina			Other foreign			Worldwide			Argentina			Other foreign
	(Millions of barrels of oil equivalent)
Consolidated entities
At January 1,		1,113			1,113			—		1,226			1,224			2			1,212			1,210			2
Developed		815			815			—		889			887			2			905			903			2
Undeveloped		298			298			—		337			337			—			307			307			—
Revisions of previous estimates ⁽²⁾		(96	)		(96	)		—		(89	)		(87	)		(2	)		71			70			1
Extensions and discoveries		80			80			—		122			122			—			147			147			—
Improved recovery		32			32			—		35			35			—			23			23			—
Purchase of minerals in place		2			2			—		31			31			—			—			—			—
Sale of minerals in place		—			—			—		(1	)		(1	)		—			(16	)		(16	)		—
Production for the year ⁽³⁾		(202	)		(202	)		—		(211	)		(211	)		—			(211	)		(210	)		(1	)

At December 31, ⁽⁴⁾		929			929			—		1,113			1,113			—			1,226			1,224			2

Developed		663			663			—		815			815			—			889			887			2
Undeveloped		266			266			—		298			298			—			337			337			—
Equity-accounted entities
At 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⁾		—			—			—		—			—			—			—			—			—

At December 31, ⁽⁴⁾		—			—			—		—			—			—			—			—			—

Developed		—			—			—		—			—			—			—			—			—
Undeveloped		—			—			—		—			—			—			—			—			—


	2017						2016						2015
Oil equivalent ⁽¹⁾	Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign		Worldwide		Argentina		Other foreign
	(Millions of barrels of oil equivalent)
Consolidated and Equity-accounted entities
At January 1,
Developed		815		815		—		889		887		2		905		903		2
Undeveloped		298		298		—		337		337		—		307		307		—

Total		1,113		1,113		—		1,226		1,224		2		1,212		1,210		2

At December 31,
Developed		663		663		—		815		815		—		889		887		2
Undeveloped		266		266		—		298		298		—		337		337		—

Total		929		929		—		1,113		1,113		—		1,226		1,224		2

*	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. Revision 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 2017, 2016 and 2015 includes an estimated approximately 25, 27 and 26 mmboe, respectively, in respect of royalty payments which, as described above, are a financial obligation, or are substantially equivalent to a production or similar tax. Barrel of oil equivalent production of equity-accounted entities in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax, are not material.

(4)

Proved oil equivalent reserves of consolidated entities as of December 31, 2017, 2016 and 2015 include an estimated approximately 119, 144 and 176 mmboe, respectively, in respect of royalty payments which, as described above, are a financial obligation, or are substantially equivalent to a production or similar tax. Proved oil equivalent reserves of equity-accounted entities in respect of royalty payments which are a financial obligation, or are substantially equivalent to a production or similar tax, are not material.

YPF SOCIEDAD ANONIMA | CIK:0000904851 |

ifrs-full:DisclosureOfInformationAboutConsolidatedStructuredEntitiesExplanatory