• Natural Gas News

    Equinor Farms Into Argentine Block

Summary

Equinor is already partnered with YPF at two other offshore blocks.

by: Joseph Murphy

Posted in:

Natural Gas & LNG News, Americas, Corporate, Exploration & Production, Contracts and tenders, News By Country, Argentina

Equinor Farms Into Argentine Block

Norway’s Equinor has struck a deal with Argentina’s YPF on joint exploration of the offshore CAN100 block in the Argentine basin.

YPF has agreed to transfer a 50% stake in the project, Equinor said in an August 21 statement, building on the pair’s existing upstream partnership. They are also teamed up at the nearby CAN102 and CAN114 sites – two of seven offshore blocks Equinor was awarded in Argentina’s latest licensing round earlier this year.

YPF won sole rights to the 15,000-square km2  CAN100 block during the same contest.

“Through this agreement Equinor strengthens its position offshore Argentina, in line with our exploration strategy to access at scale in basins with high impact potential,” Equinor’s vice president for exploration, Tim Dodson, explained.

Among other international players to secure offshore acreage in Argentina this year were France's Total and Qatar Petroleum.