Rio Negro Presents 5 Oil Blocks at Buenos Aires Roadshow

The government of Argentina's Rio Negro province presented general technical information in Buenos Aires on Thursday (June 8) for 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 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.

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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