Rio Negro Exploration Round Attracts 8 Offers

Rio Negro province
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Eight companies have submitted offers in the third hydrocarbons round launched by Argentina's Rio Negro province, the provincial government said in a statement.

Apache Energia Argentina, Compania General de Combustibles, UTE, Estrella Servicios Petroleros and Calgary-based Petrolifera Petroleum (TSX: PDP) all submitted offers for the Angostura block.

Roch and Canada's Antrim Energy (TSX: AEN) submitted offers for the Tres Nidos Sur block and Canada's Geodyne Energy (TSX: GEL) did so for the Blanco de los Olivos and Catriel Viejo Sur blocks.

Petrolifera also submitted an offer for the Puesto Guevara block.

Apache and Petrolifera already operate in the province, according to the statement.

The results from the technical evaluation will be announced by the end of the month and economic offers opened on August 14, according to the statement.

Rio Negro recently signed E&P contracts for four blocks in the Neuquen basin with three companies that were part of the province's second tender round and the province estimates total investment of some US$106mn, BNamericas previously reported.

Investment of nearly US$200mn will result from the first two tenders, Rio Negro deputy governor Mario De Rege said in the statement.

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