Rio Negro Takes 5 Oil Blocks to Houston Roadshow

The government of Argentina's Rio Negro province has presented general technical information in Houston on the first five of 18 hydrocarbons blocks the province plans to tender, the government reported.

The five blocks - Laguna El Loro, Laguna de la Piedra, Loma Kauffman, Meseta Baya and Cinco Saltos - are in the Neuquen basin.

The government will present technical information to interested parties in Buenos Aires in mid-June and call for bids at end-June, according to a previous BNamericas report.

Rio Negro's hydrocarbons ministry will accept bids for 60 days and then take 30 days to award the contracts.

Provincial governor Miguel Saiz highlighted the blocks' attractiveness due to the low extraction costs in Argentina compared to the rest of the world.

A hydrocarbons ministry official previously told BNamericas the blocks are expected to produce more oil than natural gas, although there were some gas discoveries on certain blocks last December.

The provincial government will call for bids on five more blocks in October and tender the remaining eight in the first months of 2007.

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