Shell to Join Offshore Argentina Block

Equinor and YPF have agreed to jointly farm-down a nearly one-third non-operated stake in the CAN 100 block offshore Argentina to Shell, Equinor reported Thursday.

The largest block in the North Argentinian Basin, CAN 100 encompasses 5,792 square miles (15,000 square kilometers). Equinor and YPF each own 50-percent equity in the license, Equinor noted in a written statement emailed to Rigzone. Pending government approval, Equinor and YPF would each own 35 percent and Shell would hold the remaining 30 percent.

Equinor noted that it farmed in to the YPF CAN 100 block in Oct. 2019 and agreed to operate it. The company’s website states that its offshore Argentina acreage consists of eight blocks across various basins and plays. Moreover, Equinor holds unconventional onshore assets in Argentina’s Vaca Muerta formation and Neuquen basin.

Shell’s website states that its upstream operations in Argentina include blocks in the Vaca Muerta.

To contact the author, email mveazey@rigzone.com.