Qatar Petroleum Wins Exploration Rights in 5 Offshore Blocks in Argentina as part of 2 Consortia

Doha, 16 April 2019 (QP)

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, Saad Sherida Al-Kaabi, 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.”

He said: “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.

April 16, 2019 / Current Affairs

About the Author

M Ashraf Siddiqui

Editor and publisher Ashraf Siddiqui is a well known Qatar based journalist and a social worker. He has been in Arabian Gulf Peninsula over 4 decades and enjoys rich knowledge on Middle East affairs

Comments

Comments are closed.

Disclaimer: Asian Telegraph Qatar do not accept any responsibility for any comment posted on our website. Any comment does not necessarily represent the views of the Asian Telegraph Qatar, unless where specifically stated otherwise. We reserve the right to unpublish, or delete parts or the entirety of any comments that deemed to be non-conducive to the discussion.