Early international interest shown in Argentina’s offshore oil rights auction

Argentina is attracting interest from an array of international oil firms about its auction of offshore rights planned for later this year, according to Reuters.

The South American country is still defining the areas to be included in the auction, which is expected to receive bids in November.

Companies already working onshore on shale exploration at the Vaca Muerta geologic formation in Neuquen Province will be given incentives to participate in the offshore auction.

Among the touted big-name companies showing early interest are Norway’s Statoil, Malaysia’s Petronas, China’s CNOOC and Anadarko of The Woodlands, Texas.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.
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