Province: Clevelan Sole Bidder for 7 Chubut Blocks



Local oil company Clevelan Petroleo Argentina has offered US$50mn for the exploration of seven blocks in Chubut province, the provincial government said in a statement.

The blocks are Rio Senguer, Paso Moreno, Rio Genguel Norte, Buen Pasto, Sierra Cuadrada, Nueva Lubecka and Paso de Indios.

Clevelan was the only company to submit bids for the exploration and the province is due to award the contracts in 10-15 days, a hydrocarbons department source told BNamericas.

Although there has not been E&P on the blocks in the past, the source said the blocks are more likely to produce oil than gas.

Officials in the province's hydrocarbons department declined to provide company information on Clevelan when contacted by BNamericas.

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