Exxon, Qatar Petroleum Win Three Blocks Offshore Argentina



Exxon, Qatar Petroleum Win Three Blocks Offshore Argentina
ExxonMobil Argentina Offshore Investments B.V. and a Qatar Petroleum affiliate snagged three exploration blocks offshore Argentina.

ExxonMobil subsidiary, ExxonMobil Argentina Offshore Investments B.V., along with a Qatar Petroleum affiliate, won three exploration blocks offshore Argentina during the country’s first offshore bid round, the companies announced Tuesday.

The blocks MLO-113, MLO-117 and MLO-118 – located in the Malvinas basin 200 miles offshore Tierra del Fuego – will add about 2.6 million net acres to Exxon’s existing holdings in Argentina.

“We look forward to working with our co-venturer to explore this new opportunity in Argentina,” Mike Cousins, senior vice president of ExxonMobil Exploration and New Ventures, said in a company statement. “This potential play-opening opportunity will allow ExxonMobil to use its unique exploration capabilities and expertise as it evaluates this new acreage.”

Qatar Petroleum CEO Saad Sherida Al-Kaabi added, “We are pleased to have been awarded these offshore exploration blocks, which further strengthen QP’s footprint within Argentina…”

ExxonMobil will operate the blocks with a 70 percent working interest while the Qatar Petroleum affiliate will hold the remaining 30 percent. Initial work will include 3-D seismic data acquisition.



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.