Equinor and ExxonMobil are among the winners of Argentina’s offshore round
Apr, 17, 2019 Posted by datamarnewsWeek 201917
Norwegian oil and gas giant Equinor and American ExxonMobil are among the winners of Argentina’s first offshore licensing round which took place yesterday in Buenos Aires. Equinor has added seven offshore exploration blocks to its portfolio, while ExxonMobil has added three.
We are very pleased to succeed in this competitive licensing round and to have added significant prospective acreage to our exploration portfolio. These awards fit with our exploration strategy, providing us with access at scale in basins with high impact potential. #Argentina ??
— Equinor (@Equinor) 17 April 2019
Equinor won five blocks as operator and participated in winning bids with YPF and Total who will operate two other blocks. ExxonMobil will operate three blocks, MLO 113, MLO 117 and MLO 118.
BLOCK NAME | SIZE | PARTNERSHIP |
MLO 121 | 4291 km2 | Equinor (operator, 100%) |
MLO 123 | 3787 km2 | Total (operator, 37.5%), YPF (37,5%) and Equinor (25%) |
CAN 102 | 8965 km2 | YPF (operator, 50%), Equinor (50%) |
CAN 108 | 2882km2 | Equinor (operator, 100%) |
CAN 114 | 7079 km2 | Equinor (operator, 50%), YPF (50%) |
AUS 105 | 2157 km2 | Equinor (operator, 100%) |
AUS 106 | 2283 km2 | Equinor (operator, 100%) |
MLO 113 | – | ExxonMobil (operator, 70%), Qatar Petroleum (30%) |
MLO 117 | – | ExxonMobil (operator, 70%), Qatar Petroleum (30%) |
MLO 118 | – | ExxonMobil (operator, 70%), Qatar Petroleum (30%) |
A total of 38 blocks were on offer, while only 18 received bids to conduct exploration. According to BNAmericas, four of the bidding companies have no previous operations in Argentina: Mitsui, BP, ENI, and Tullow. The rest are Qatar Petroleum, Equinor, ExxonMobil, Total, YPF, Shell, Pluspetrol, Tecpetrol, and Wintershall.
Argentina’s energy secretariat will validate the companies that were awarded blocks in May.
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