News

22
Apr

Equinor wins seven exploration blocks offshore Argentina

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

The bid round was arranged in Buenos Aires on 16 April. Equinor submitted the winning bids for five blocks as operator. Equinor also participated in winning bids for one block to be operated by YPF and one block to be operated by Total.

“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.

“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.

A total of 38 blocks were on offer in the licensing round, the first open bid round for Argentinean offshore acreage in more than 20 years.

Equinor participated in the following winning bids:

BLOCK NAME SIZEPARTNERSHIP
MLO 1214291 km2Equinor (operator,  100%)
MLO 1233787 km2Total (operator, 37.5%), YPF (37,5%) and Equinor (25%) 
CAN 1028965 km2YPF (operator, 50%), Equinor (50%)
CAN 1082882km2Equinor (operator, 100%)
CAN 1147079 km2Equinor (operator, 50%), YPF (50%)
AUS 1052157 km2Equinor (operator, 100%)
AUS 1062283 km2 Equinor (operator, 100%)


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.