YPF Buys Bidding Rules for 3 San Luis Blocks
The Argentine YPF subsidiary of Spanish oil major Repsol YPF (NYSE: REP) has purchased bidding rules for the three hydrocarbons blocks being tendered by Argentina's San Luis province, the provincial government said in a statement.
The blocks are Bolson Beazley (6,299 sq km), Bolson Estancia La Daisy (1,430 sq km) and Bolson Pampa de Las Salinas (1,888 sq km).
The three showed "positive results" during studies conducted in the region during the 1970s.
The province will sell bidding rules through July and receive technical bids in September.
Companies whose technical bids are approved will be able to submit economic bids in October. The winning bidder will sign the contract in early December, the statement said.
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