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    Shell Farms into Argentine Block

Summary

Equinor teamed up with YPF to explore the offshore area in October 2019.

by: Joe Murphy

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Shell Farms into Argentine Block

Norway's Equinor and Argentina's YPF have struck a deal to transfer a 30% interest in the CAN-100 block in the offshore North Argentinian basin to Anglo-Dutch Shell, Equinor said on January 14.

The deal, which will need government approval, will leave Equinor and YPF each with 35%. Equinor farmed into the 15,000-km2 block itself in October 2019. No drilling has taken place, although the area was mapped with 2D and 3D seismic surveys in the past. The operators have committed to collecting a further 1,500 km2 of 3D seismic data during the initial exploration period.

Equinor and YPF are also partnered at the nearby CAN-102 and CAN-114 sites – two of seven offshore blocks Equinor was awarded in Argentina's 2019 licensing round.