ARGENTINA INVITES BRAZILIAN COMPANIES TO PARTICIPATE IN THE EXPLORATION OF ITS PETROLEUM BASINS IN THE SOUTH OF THE COUNTRY

November 27, 2018

Argentina is launching a Tender for Hydrocarbon Exploration in areas of the Argentine Continental Shelf in the south of the country. The consulate in Brazil is inviting Brazilian companies to integrate this process.

The search is for the incorporation of new reserves and the recovery of production, in order to achieve security of supply and, from there, gradually fulfill the main objective established to meet the hydrocarbon needs of the country with the production of its reservoirs .

Within this framework, the knowledge, exploration and production of the Offshore areas located in the Argentinean Continental Shelf are encouraged, through effective investments in seismic prospecting and exploration tasks in general, by companies with the technical and financial capacity required for such ventures. The companies must provide the necessary technology, equipment, machinery and other investments in each of the areas granted.

The Secretary of Energy Argentina is responsible for convening the Offshore International competition for the concession of exploration licenses for hydrocarbon exploration in the areas of the south of the country. Companies that do not meet the established requirements must present a technical and / or economic guarantee of their controllers that meet the established qualification requirements: Long Term Exploration Permit: Three periods (4 + 4 + 5 years) for all blocks except shallow water: 4 + 3 + 4); Obligation to drill a well in the 2nd Period and in the Extension Period.

The bidder must present a maintenance guarantee of US $ 100,000 for each of the areas offered. The sealed envelope must contain the corresponding bid form.

The overall objective of this round is to raise awareness about Argentine offshore opportunities through real investments in Exploration carried out by companies with technical and financial capacity to meet the objectives of the Round.

There will be 38 blocks included in round 1 (225,000 km2):

West Falkland Basin: 18 deepwater blocks (90,000 km2)

Northern Argentina Basin: 14 deep water blocks (130,000 km2)

Southern Basin: 6 shallow water blocks (5,000 km2)

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