Salta E&P Offers Total US$220mn
Offers for the E&P of six hydrocarbons areas in Argentine province Salta total US$220mn, the provincial government reported.
Salta is tendering the following blocks: Hickman, Tartagal Oriental, Chirete, Morillo, La Union and Malvala. The areas cover Anta, Rivadavia and San Martin departments.
"The offers reached our expectations and in some cases surpassed them," provincial deputy energy minister Mariano Arce Lloveras said.
An energy department engineer told BNamericas the winners are practically decided upon and an official announcement is due in coming days. Contract signing will take place 30 days after the announcement.
The contracts will run four years with options for subsequent three and two-year periods, the engineer said.
Preliminary work will begin immediately, but groundwork probably not until March, when rains diminish, the official added.
A consortium of Argentine oil company Tecpetrol and Brazil's federal energy company Petrobras (NYSE: PBR) presented an offer for Hickman.
Tecpetrol, Petrobras and US oil company Occidental (NYSE: OXY) each submitted bids for the Tartagal Oriental area.
The following presented bids for the Chirete area: US oil company Cliveden; a consortium of Oxy and Chinese oil company JHP; and a consortium of the local YPF subsidiary of Spain's Repsol YPF (NYSE: REP), Argentine oil company Pluspetrol and Canadian oil company Gran Tierra.
Korean oil company Petroterra was the only bidder for the Morillo, La Union and Malvala areas.
The blocks together cover more than 29,000 sq km and are classified as medium and high risk.
Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.
- Oil May Bring 400,000 Jobs and $258B in Investments to Brazil (Jan 17)
- Petrobras Sells Rights in 37 Oilfields for $823MM (Nov 28)
- Brazil Subsea Pipeline Project Goes to McDermott (Nov 21)
Company: Tecpetrol more info
- Union Leader: Argentina's Tecpetrol To Invest $2.3B In Vaca Muerta (Mar 23)
- Pluspetrol to Invest $500M in Peru Natgas Block (Aug 04)
- PetroNova Relinquishes CPO-6 Interest (Jul 05)
Company: Pluspetrol more info
- Government: Bids on Peru's Biggest Oil Block to Start in April (Mar 06)
- Pluspetrol Interested in Bidding on Peru's Biggest Oil Block (Feb 11)
- Argentina's Pluspetrol to Buy Apco Oil and Gas for $427 Million (Oct 03)
Company: Gran Tierra Energy more info
- Gran Tierra Receives 'Outperform' Rating After Revealing Exploration Plans (Jun 15)
- Gran Tierra Energy Reveals $38.6 Million Net Loss (Aug 05)
- Gran Tierra Touts Record Production in Colombia (Apr 17)