Equinor Wins Seven Exploration Blocks Offshore Argentina

Source Press Release
Company Equinor ASATotalYPF Sociedad Anonima 
Tags Licensing Rounds, Deals, Upstream Activities
Date April 17, 2019

Equinor adds seven offshore exploration blocks to its portfolio, after presenting winning bids in the 1st Offshore Licensing Round in Argentina.

The bid round was arranged in Buenos Aires on 16 April. Equinor submitted the winning bids for five blocks as operator. Equinor also participated in winning bids for one block to be operated by YPF and one block to be operated by Total.

“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,” says Tim Dodson, Equinor’s executive vice president for exploration.

“We are looking forward to mature these new opportunities and work together with our partners YPF, Argentina’s leading energy company, and Total, who has long experience from offshore activities in these waters,” says Dodson.

A total of 38 blocks were on offer in the licensing round, the first open bid round for Argentinean offshore acreage in more than 20 years.

Equinor participated in the following winning bids:

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%) 

Equinor entered Argentina in 2017 and holds a 50% interest in the Bajo del Toro licence (YPF operator, 50%) and is operator with 90 % equity in the Bajo del Toro Este licence (partner Gas y Petróleo del Neuquén, 10%). Equinor also holds a 50% interest in the Guanizul 2A (G2A) solar asset in Argentina.

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd