Shell Farms Into Offshore Block in Argentina

Share:

January 14, 2021

Credit: Equinor

Credit: Equinor

Oil and gas giant Shell has agreed to farm into the CAN 100 block, offshore Argentina, currently jointly owned by the Norwegian energy firm Equinor and Argentina's YPF.

In October 2019, Equinor farmed into the YPF CAN 100 block and agreed to take over the operatorship. 

Equinor and YPF have agreed with Shell to jointly farm-down 30% non-operated interests in the CAN 100 block, offshore Argentina.

Equinor and YPF currently both hold 50% equity in the license and will, after the transaction, hold 35% each, with Shell holding the remaining 30% in the block.

The CAN 100 block covers 15,000 km2 and is the largest block in the North Argentinian Basin. 

The agreement is pending governmental approval, Equinor said in a statement, without sharing info on the transaction's financial terms.

Offshore Engineer reached out to Equinor, seeking more info on the financial terms, as well as on the planned work at the offshore block.

An Equinor spokesperson said: "We will not comment on any financial details in the agreement. Our focus is now to continue to develop our subsurface understanding and we will continue to mature our work program as per our license commitments."

"The license is covered by 2D seismic as well as a 2,200km2 3D survey. The commitment in this first exploration period is to acquire 1,500 km2 of 3D seismic," the spokesperson added.

No comments

More Popular Posts

About Crude Oil Brokers Ltd

Crude Oil Brokers Ltd is a dedicated global broker and facilitator of crude oil buying and selling. We work directly with crude oil buyers and crude oil sellers worldwide. We are a United Kingdom and Nigerian based firm, privately owned and devoted to the brokering of crude oil and other petroleum products buying and selling.

We have buyers and sellers of;

1. Nigerian Bonny Light Crude Oil, BLCO

2. D2 Diesel Fuel, JP54 Jet Fuel, Mazut etc.

3. Saudi Light Crude Oil, SLCO

4. Iraqi Light Crude Oil

If you are a buyer or seller of crude oil or other petroleum products or have mandate to buy or sell any of the above oil products, do contact us because we could be of help.

To contact Crude Oil Brokers, click here ». To learn more about Crude Oil Brokers Ltd, click here


Crude Oil Brokers