Bidding Rules on Sale July 12 for Mendoza Exploration Contracts
The economy ministry of Argentina's Mendoza province will begin selling bidding rules on July 12 for contracts to explore for hydrocarbons in four areas, the provincial government said in a statement.
The four areas are the Nacunan and Los Tordillos Oeste properties in the Cuyana basin as well as the Neuquen basin's Chachahuen and Rio Atuel properties.
The government aims to decide later this week on the investment requirements for the areas, Zanetta added.
Two exploratory wells drilled in the Rio Atuel area showed gas productivity, while the Los Tordillos area had an oil find that was not commercially viable when discovered in 1969.
The Chachahune area has not been explored extensively, although there are two small areas nearby with oil production. Nacanan has had many exploratory wells drilled, which so far have shown traces of hydrocarbons.
Mendoza province already has received expressions of interest for the exploration of the blocks from local and international firms.
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