Neuquen Launches Rio Barrancas Block Tender

Argentina's Neuquen province has launched the tender for the joint E&P of the Rio Barrancas block with province-owned oil company Hidenesa, the province said in a statement.

The winning bidder would carry out a three-year exploration period. Hidenesa would only begin to participate with a 10% stake if a hydrocarbons discovery is made.

The province will accept bids through December 28.

The area has not been explored in the past and is on the border of the prolific Neuquen basin, although neighboring areas have shown hydrocarbons reserves.

Rio Barrancas is the first of 18 blocks the province plans to tender through end-2007.

Officials from Neuquén province's energy and mines department were not available to provide more information when contacted by BNamericas.

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