Exxon, Qatar Petroleum Win Three 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.
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