(Energy Analytics Institute, Aaron Simonsky, 7.Apr.2020) — Argentina’s government authorized state oil company YPF to move forward with a transfer of a 50% interest in an offshore exploration permit to the Norwegian oil giant Equinor.
Details of the deal were confirmed by Argentina’s Energy Secretariat, led by Sergio Lanziani, through publication of Resolution 55/2020 in the Official Gazette, reported Neuquén local media Río Negro.
The deal allows YPF to bring in a first-rate international partner to assist in offshore developments, and one that brings to the table know-how as well as capital to carry out investments, Río Negro said.
The permit covers the CAN_100 area, that spans 15,000 square kilometers, and which is located in the northern part of the Argentine Sea off the coast of Mar del Plata.
Nearly a year ago, in mid-April 2019, the then Energy Secretariat Gustavo Lopetegui, granted YPF an 100% interest in the rights to the permit area, which earlier had been under an association agreement with an exploration and exploitation permit issued to Petrobras Argentina and PetroUruguay.
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