The agreement is subject to the province approving a one year extension to the exploration period and the formalisation of new UTEs.
Andes previously held a 20% working interest in the blocks and will now hold a 13.5% carried interest following completion.
Under the agreement, YPF will fund exploration work program commitments up to the stage of commercial discovery.
Andes oil and gas operations CEO Juan Esteban said that these two licenses are well located in terms of current gas production, within the largest gas producing basin in Argentina.
"The Vaca Muerta source rock, present in these licenses, could eventually be found to be holding unconventional reserves," Esteban said.
