ExxonMobil Wins 3 Blocks Off Argentina

Laxman Pai
Wednesday, April 17, 2019

U.S. oil major Exxon Mobil Corp said  that its unit and an affiliate of Qatar Petroleum had won three exploration blocks offshore Argentina.

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 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.

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 1,700 Argentine citizens in various corporate functions such as human resources, information technology and finance.

Categories: Offshore Energy Oil Gas Regulation

Related Stories

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

Pakistan, Türkiye Deepen Oil and Gas Ties with Offshore Indus-C Block Deal

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Vietsovpetro Brings BK-24 Oil Platform Online Two Months Early

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

Seatrium Secures ABS Backing for Deepwater FPSO Design

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Current News

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Pakistan, Türkiye Deepen Oil and Gas Ties with Offshore Indus-C Block Deal

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com