Argentina opens offshore bidding

Argentina opens offshore bidding

Corporate & Sovereign Strategy Economy & Policy Project & Infrastructure Finance Gas Argentina

Argentina has opened its first public bidding process for offshore oil exploration and production contracts, looking to grant permits for 38 blocks covering 225,000 square kilometers. The Energy Ministry said it expects average investments of $300m for deep-water blocks and $100m for shallow-water blocks.The blocks are in the Austral, Malvina Oeste and Argentina Norte basins in the South Atlantic. The government has opened the bidding to operators with profits of at least $30m per year and bet

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