DOHA, Qatar – Qatar Petroleum has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina.
The winning bids were announced today by Argentina’s Secretariat of Government of Energy (“SGE”) at the end of a public tender process that started in November 2018. They will be subject to customary confirmation and regulatory approvals by the Argentinian authorities.
Qatar Petroleum won the exploration rights for blocks MLO-113, MLO-117, and MLO-118 in the Malvinas West basin as part of a consortium comprising an ExxonMobil affiliate (operator with a 70% interest) and a Qatar Petroleum affiliate (with a 30% interest).
Qatar Petroleum also won the exploration rights for blocks CAN-107 and CAN-109 in the North Argentina basin as part of a consortium comprising an affiliate of Shell (operator with a 60% interest) and an affiliate of Qatar Petroleum (with a 40% interest).
Commenting on these results, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, The President & CEO of Qatar Petroleum, said: “We are pleased to have been awarded these offshore exploration blocks, which further strengthen QP’s footprint within Argentina along with our existing Neuquén basin unconventional assets. This important result marks yet another step towards implementing our international growth strategy, and maximizing synergies with our existing strong base in Latin America.”
His Excellency added: "I would like to take this opportunity to thank the Argentinian authorities for their transparent and efficient tender process, and our strategic partners ExxonMobil and Shell for their continued support of our joint future objectives”.
The exploration blocks offered during the public tender included 38 shallow, deep and ultra-deep water offshore blocks in the Austral, North Argentina, and Malvinas West basins. Qatar Petroleum participated in the bid round as a non-operating partner.
Competing bids were submitted today during a public session, and the winners were announced at the same session.
About Qatar Petroleum
Qatar Petroleum is an integrated national oil corporation responsible for the sustainable development of the oil and gas industry in the State of Qatar and beyond.
Qatar Petroleum’s activities encompass the entire spectrum of the oil and gas value chain locally, regionally, and internationally, and include the exploration, production, processing, marketing and sales of oil and gas, liquefied natural gas (LNG), natural gas liquids (NGL), gas to liquids (GTL) products, refined products, petrochemicals, fertilizers, steel and aluminum.
Qatar Petroleum is committed to contribute to a better future by meeting today’s economic needs, while safeguarding our environment and resources for generations to come. Thriving on innovation and excellence, Qatar Petroleum is bound to the highest levels of sustainable human, socio-economic, and environmental development.
For more information, please visit www.qp.com.qa
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
