& Tobago

Very usefull links


News links




Dow Jones

Oil price



Views and News




Equinor wins seven exploration blocks offshore Argentina, ExxonMobil wins three, Shell two


Equinor adds seven offshore exploration blocks to its portfolio, after presenting winning bids in the 1st Offshore Licensing Round in Argentina.

By Elio Ohep / Petroleumworld

Petroleumworld 04 17 2019

Norway's Equinor oil company won the right to explore seven blocks offshore Argentina, while ExxonMobil won three exploration blocks and Shell two during Argentina's first offshore bid round, the companies said on Tuesday.

A total of 38 blocks were offered in the licensing round, received offers for the exploration of three offshore hydrocarbon basins of 13 companies for 995 million dollars, the Energy Secretariat said in a statement on Tuesday, the first open bid round for Argentinean offshore acreage in more than 20 years.

The report states that of the total number of companies that made bids, there were four that until today had no operations in the country: Mitsui, BP, ENI and Tullow, while the list of bidders was completed by companies Qatar, Equinor, ExxonMobil, Total, YPF, Shell, Pluspetrol, Tecpetrol and Wintershall.

Equinor participated in the following winning bids:

Block name 



MLO 121

4291 km2

Equinor (operator,  100%)

MLO 123

3787 km2

Total (operator, 37.5%), YPF (37,5%) and Equinor (25%)

CAN 102

8965 km2

YPF (operator, 50%), Equinor (50%)

CAN 108


Equinor (operator, 100%)

CAN 114

7079 km2

Equinor (operator, 50%), YPF (50%)

AUS 105

2157 km2

Equinor (operator, 100%)

AUS 106

2283 km2 

Equinor (operator, 100%)

“We are very pleased to succeed in this competitive licensing round and to have added significant prospective acreage to our exploration portfolio. These awards fit with our exploration strategy, providing us with access at scale in basins with high impact potential,” says Tim Dodson, Equinor's executive vice president for exploration.

Equinor entered Argentina in 2017 and holds a 50% interest in the Bajo del Toro licence (YPF operator, 50%) and is operator with 90 % equity in the Bajo del Toro Este licence (partner Gas y Petróleo del Neuquén, 10%). Equinor also holds a 50 % interest in the Guanizul 2A (G2A) solar asset in Argentina.

“We are looking forward to mature these new opportunities and work together with our partners YPF, Argentina's leading energy company, and Total, who has long experience from offshore activities in these waters,” says Dodson.

Equinor shares were up 1.6 percent in early trading, Reuters reported.

For ExxonMobil 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, after its subsidiary ExxonMobil Argentina Offshore Investments B.V. and an affiliate of Qatar Petroleum won three exploration blocks.

The blocks are located in the Malvinas basin, approximately 200 miles (320 kilometers) 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 percent working interest. A Qatar Petroleum affiliate will hold the remaining 30 percent. The initial work program will include 3-D seismic data acquisition. A resolution will be issued by Argentina's Secretariat of Energy confirming the public tender results.

Shell Argentina reported it won two deep-water blocks in the Argentine North Basin on Tuesday.

The blocks won by Shell have an area of 8,341 square kilometers and 7,862 square kilometers and extend to the edge of the continental shelf in waters ranging from 200 to 2,500 meters deep, the company reported.

"Its long-term potential would allow us to develop a deepwater portfolio, thus complementing our unconventional model in the Neuquén Basin," said Andy Brown, Shell's upstream director in a statement.

Sources: Equinor, ExxonMobil, Reuters.


We invite you to join us as a sponsor.

Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.



Reporting by Elio Ohep, 04 17 2019


Hit your target - Advertise with us

PW 300.000 plus request per week

Copyright© 1999-2019 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions as the source.

Other stories you have to get authorization by its authors. Internet web links to are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.

Write to

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to:

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1




Editor & Publisher: Elio Ohep/
Contact Email:

CopyRight © 1999-2019, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld ™  / Elio Ohep - All rights reserved



This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.