Argentina province to offer 12 blocks

MENDOZA, November 14, 2017 – The province of Mendoza will auction off 12 hydrocarbons blocks in February and March 2018, provincial government officials announced on Monday.

The province aims to raise USD 1 billion-2 billion from the concessions during their exploration phases, which the government says can range from three to eight years.

In addition, the provincial government hopes that work resulting from the tender will go towards raising production and further defining the area’s unconventional potential, particularly with regards to the Potrerillos and Vaca Muerta formations.

Two production areas, Puesto Pozo Cercado Occidental and Atuel Norte, will be tendered in February. In March, 10 exploration blocks – Los Parlamentos, CN III Norte, Boleadero, Loma Cortaderal, Cerro Doña Juana, Ranquil Norte, CN VII-A, Chachahuén Oeste, Loma del Divisadero and Puesto Pozo Cercado Oriental – will be auctioned.

Technical information on blocks will be made available on December 1, with official awards made public on April 23.

According to provincial Minister of Economy, Infrastructure and Energy Martín Kerchner, Mendoza accounts for 16% of national oil production and 4% of gas output. About 22% of Argentina’s refined fuels are also produced in the province, he told journalists as he announced the bid round.

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