Norway’s state-owned energy company Equinor said it won seven offshore exploration blocks in Argentina’s first offshore licensing round.
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, the company said in a statement.
“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,” said 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 entered Argentina in 2017 and holds a 50 per cent interest in the Bajo del Toro licence (YPF operator, 50%) and is operator with 90 per cent equity in the Bajo del Toro Este licence (partner Gas y Petróleo del Neuquén, 10%). Equinor also holds a 50 per cent interest in the Guanizul 2A (G2A) solar asset in Argentina.