LNG giant Qatar Petroleum and US energy major ExxonMobil has partnered up and won three exploration blocks in Argentina’s first offshore bid round. Equinor picks up seven blocks.
ExxonMobil said on Tuesday that it won the blocks through a partnership of its unit ExxonMobil Argentina Offshore Investments and an affiliate of Qatar Petroleum.
The three blocks are around 2.6 million net acres and located in the Malvinas basin, approximately 320 kilometers offshore Tierra del Fuego and include MLO-113, MLO-117, and MLO-118 blocks.
Mike Cousins , SVP of ExxonMobil Exploration and New Ventures, said: “ We look forward to working with our co-venturer to explore this new opportunity in Argentina. This potential play-opening opportunity will allow ExxonMobil to use its unique exploration capabilities and expertise as it evaluates this new acreage. ”
ExxonMobil will operate the blocks with 70 percent working interest while Qatar Petroleum will hold the remaining 30 percent.
According to the company, the initial work program will include 3D seismic data acquisition. A resolution will be issued by Argentina’s Secretariat of Energy confirming the public tender results.
Equinor wins seven exploration blocks
Equinor said on Wednesday that it added seven offshore exploration blocks to its portfolio in Argentina, after presenting winning bids in the first offshore licensing round in Argentina.
The company submitted winning bids for five blocks as operator and two winning bids as a partner in blocks operated by YPF and Total respectively.
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.