Friday, December 9

The Government authorized the offshore exploration of hydrocarbons in the Buenos Aires coast

The CAN 100 block is located 300 km from the coast, covers an area of ​​15,000 km2 and is the largest block. There, Equinor owns 35% of the company, YPF another 35% and Shell a 30%. The Norwegian remains as the operator of the area. CAN 100 is located in an area of ​​ultra-deep waters (more than 1,500 meters deep) never before explored or drilled in the country, which represents a milestone in the history of Argentine offshore exploration.

In the block CAN 114 it shares the total society in equal parts with the state majority company. Equinor and YPF are also partners in the block CAN 102, which does not yet have permission to explore.

Hydrocarbons Offshore.jpg

The objective of the consortium made up of the three companies is to advance in the exploration of this exploratory frontier with unique characteristics and high hydrocarbon potential. Equinor and Shell are leading companies in offshore hydrocarbon exploitation, to which is added the underground expertise that YPF has. In addition, the alliance will make it possible to distribute the high financial burdens demanded by offshore exploration.

The Resolution clarified that Equinor must “To strictly comply with the terms of the Environmental Management Plan that is part of the Environmental Impact Study presented, as well as any other requirement that this authority considers to carry out.”

Hydrocarbons Offshore Resolution 436/21 of the Minister of Environment and Sustainable Development.pdf