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Qatar Petroleum Wins 5 Exploration Blocks Offshore Argentina

Source: www.gulfoilandgas.com 4/16/2019, Location: South America

Qatar Petroleum has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina.

The winning bids were announced today by Argentina’s Secretariat of Government of Energy (“SGE”) at the end of a public tender process that started in November 2018. They will be subject to customary confirmation and regulatory approvals by the Argentinian authorities.

Qatar Petroleum won the exploration rights for blocks MLO-113, MLO-117, and MLO-118 in the Malvinas West basin as part of a consortium comprising an ExxonMobil affiliate (operator with a 70% interest) and a Qatar Petroleum affiliate (with a 30% interest).

Qatar Petroleum also won the exploration rights for blocks CAN-107 and CAN-109 in the North Argentina basin as part of a consortium comprising an affiliate of Shell (operator with a 60% interest) and an affiliate of Qatar Petroleum (with a 40% interest).

Commenting on these results, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, The President & CEO of Qatar Petroleum, said: “We are pleased to have been awarded these offshore exploration blocks, which further strengthen QP’s footprint within Argentina along with our existing Neuquén basin unconventional assets. This important result marks yet another step towards implementing our international growth strategy, and maximizing synergies with our existing strong base in Latin America.”

His Excellency added: "I would like to take this opportunity to thank the Argentinian authorities for their transparent and efficient tender process, and our strategic partners ExxonMobil and Shell for their continued support of our joint future objectives”.

The exploration blocks offered during the public tender included 38 shallow, deep and ultra-deep water offshore blocks in the Austral, North Argentina, and Malvinas West basins. Qatar Petroleum participated in the bid round as a non-operating partner.

?Competing bids were submitted today during a public session, and the winners were announced at the same session.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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