Argentina to Hold Round for 9 Offshore Blocks, Data Available

Argentine state energy company, Enarsa, will begin selling data packages for its first offshore E&P round from its offices in Buenos Aires, the company recently reported.

Data packages for blocks E4 and E5 will cost US$120,000. Data packages for the other seven blocks (E6-12) will cost US$70,000 each. Offers are due from August 8 through November 4, when technical offers will be opened. Economic offers will be opened on December 1, according to the statement.

In April, Enarsa officially launched the first of six offshore rounds to be held bi-annually through 2010. The first round includes nine offshore block totaling 113,200 square kilometers in the Salado, Colorado and Golfo de San Jorge basins off the coast of southern Argentina's Chubut province. Enarsa will require a minimum 51% interest in each of the blocks.

If commerciality is declared, a 25-year exploitation contracts will be signed, a company official said in April. Enarsa intends to have all Argentine waters under exploration by 2010.

Enarsa is not responsible for exploration costs if hydrocarbons are not found, but the company will provide up to 50% of any eventual net revenues from the areas to pay back its share of exploration costs if reserves are discovered.

The state company already is exploring six offshore blocks with companies including Spain's Repsol YPF and Brazil's Petrobras.