HOME - ABOUT US - NEWSLETTER - CONTACT US - LINKS
News
Enarsa launches offshore round, 9 blocks on offer
Source: Bnamericas
Date: 04/16/2008 00:00
Argentina`s state energy company Enarsa has launched the first of six offshore rounds to be held bi-annually through 2010, Argentina`s planning minister Julio de Vido said in a webcast to launch the round.
The first round will include nine offshore block totaling 113,200km2 in the Salado, Colorado and Golfo de San Jorge basins off the coast of southern Argentina`s Chubut province.
Enarsa will require a minimum 51% interest in each of the blocks. If commerciality is declared, 25-year exploitation contracts will be signed, the presidential press office said in a statement.
Enarsa intends to have all Argentine waters under exploration by 2010, Enarsa president Exequiel Espinosa said.
Enarsa is not responsible for exploration costs if hydrocarbons are not found, Espinosa said. The company, however, will provide up to 50% of any eventual net revenues from the areas to pay back its share of exploration costs if reserves are discovered.
Seismic information has been collected on the areas since the 1970s and will be available to interested companies. The company plans to launch a website with information on the round early next week, Espinosa said.
Enarsa is most interested in deepwater areas similar to blocks developed offshore Africa, he said.
The company already is exploring six offshore blocks with companies including Spain`s Repsol YPF (NYSE: PBR) and Brazil`s Petrobras (NYSE: PBR).
Argentina`s President Cristina Fernández attended the ceremony as did ambassadors and officials from the US, China, Canada, Russia, Norway and Ukraine.

