Mendoza Sells 17 Bidding Rules for Exploration of 4 Areas

Argentina's Mendoza province has sold bidding rules to explore four hydrocarbons areas to 17 companies in a tender process launched July 12, the provincial government reported.

The four areas are the Nacunan and Los Tordillos Oeste properties in the Cuyana basin as well as the Chachahuen and Rio Atuel properties in the Neuquen basin.

The province hopes more companies will express interest before the October 5 bid submission deadline, the statement said.

Local companies that have purchased bidding rules include: Chanares Herrado; Petroquimica Comodoro Rivadavia; Pluspetrol; Interenergy Argentina; and the local YPF subsidiary of Spain's Repsol YPF (NYSE: REP).

Others include: US oil companies Antrin Argentina, Cliveden Petroleo Argentina and Chevron San Jorge; Canadian oil firms Petroandina Resources, Vintage Oil and Petrolifera Petroleum; Brazil's federal energy firm Petrobras (NYSE: PBR); Italian oil company Tecpetrol; French oil company Total Austral; Korean oil firm Golden Oil; German oil company Wintershall Energia; and Norwegian oil company Petrolera El Trebol.

The province will open technical and financial offers October 10.

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, BNamericas previously reported.

The Chachahuen area has not been explored extensively. Nacunan has had many exploratory wells drilled, which so far have shown traces of hydrocarbons.

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