Skip to main content

ExxonMobil wins three blocks in Argentina offshore bid round

Published by
Oilfield Technology,


ExxonMobil has increased holdings in Argentina after its subsidiary ExxonMobil Argentina Offshore Investments B.V. and an affiliate of Qatar Petroleum won three exploration blocks during Argentina’s first offshore bid round.

The award adds approximately 2.6 million net acres to its existing holdings in Argentina, which includes the onshore Vaca Muerta unconventional oil play and a business support center in Buenos Aires.

The blocks are located in the Malvinas basin, approximately 200 miles (320 km) offshore Tierra del Fuego and include MLO-113, MLO-117 and MLO-118.

“We look forward to working with our co-venturer to explore this new opportunity in Argentina,” said Mike Cousins, senior vice president of ExxonMobil Exploration and New Ventures. “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% working interest. A Qatar Petroleum affiliate will hold the remaining 30%. The initial work programme will include 3-D seismic data acquisition. A resolution will be issued by Argentina’s Secretariat of Energy confirming the public tender results.

ExxonMobil through its subsidiaries in Argentina currently holds interest in approximately 315 000 net acres spanning seven blocks in the onshore Neuquén Basin of the Vaca Muerta formation. The business support center in Buenos Aires employs approximately 1700 Argentine citizens in various corporate functions such as human resources, information technology and finance.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/17042019/exxonmobil-wins-three-blocks-in-argentina-offshore-bid-round/

You might also like

Winters Instruments

[Webinar] A New Solution to Monitoring Pressure in Applications with Vibration and Pulsation

During this webinar, Winters Instruments will discuss the issues associated with liquid-filled gauges and how a new solution overcomes them. Register for free today »

 

FMS awarded 8-figure North Sea contract

FMS, an independent supplier of mooring equipment to the global oil and gas industry, has secured a three-year contract with BP for the provision of mooring equipment for its North Sea operations.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Upstream news Offshore news