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Statoil completes acquisition of Brazilian offshore licence

Equinor and YPF partner with Shell on offshore block in Argentina

Jan 17, 2021
1 min read
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Equinor and YPF have entered into an agreement with Shell to jointly farm-down 30 per cent non-operated interests in the CAN 100 block, located in the North Argentinian Basin, offshore Argentina.

In October 2019, Equinor farmed in to the YPF CAN 100 block and agreed to take over the operatorship. Equinor and YPF currently both hold 50 per cent equity in the license, and will after the transaction hold 35 per cent each, with Shell holding the remaining 30 per cent in the block.

The CAN 100 block comprises an area of 15,000 km2 and is the largest block in the North Argentinian Basin.

The agreement is pending governmental approval.

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