Pampetrol Blocks to Require US$3mn Investments

The 10 blocks in Argentina's La Pampa province that province-controlled oil company Pampetrol plans to tender in the short term will require investment of some US$3mn, company director Raul Almirall told BNamericas in an email.

The blocks are Gobernador Ayala I, IV, V and VI; Salina Grande VIII, IX, X, XI and XII; and Macachin Norte.

The winning bidders will conduct 3-D seismic evaluations on the entirety of each 300 sq km block and drill two exploratory wells, Almirall wrote.

The blocks have been explored superficially in the past with some 2-D seismic evaluations, and gravity and aeromagnetic surveys.

Pampetrol has nearly finished drafting the bidding rules for the E&P of the blocks, and could launch the tender in roughly 10 days, Almirall told BNamericas on February 22.

Pampetrol was created by La Pampa province in September 2006 and ultimately plans for 20% of the company to be held by the private sector.

Visit BNamericas to access our real-time news reports, 10-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.