Argentina to launch offshore round in October

BUENOS AIRES, September 18, 2018 – Argentina will start up its first offshore E&P round in October and award licences the following February, energy secretary Javier Iguacel told audiences at a Houston conference on Monday.

The auction will include a total of 38 shallow-water and deepwater blocks in the Malvinas, Argentine and Austral basins. Companies reported to be interested in participating include Equinor, China National Offshore Oil Corporation, Anadarko Petroleum and Petronas.

Due to recent economic turmoil and investor uncertainty in Argentina, the bidding round launch was postponed from July. Licences were originally expected to be granted before year end.

“A lot of companies were asking for more time,” Secretary Iguacel said. “We will not postpone it any more. […] The terms are very interesting for exploration.”

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