Shell and Qatar Petroleum fetch oil in the sea of ​​Argentina

This agency has allocated blocks called CAN_107 and CAN_109, two border operation areas located on the periphery of the Argentine continental shelf.

One of these blocks occupies an area of ​​8,341 square kilometers and the other, 7,860 square kilometers; They extend into shallow and deep waters 200 to 2,500 meters deep, in accordance with the provisions.

Energy has also established that the duration of the exploration license will be eight years, "subject to compliance with the licensees' obligations and their decision to proceed to the second exploration period, divided into two four-year exploration periods".

Shell and Qatar Petroleum won last May the international public competition launched by Casa Rosada in October 2018 for hydrocarbon research in the "zones of the offshore zone".

The executive has justified this measure by indicating that the Argentine continental shelf and its various exploratory basins, "are under-explored, which stands out for the lack of existing information for their development".

"In this regard, the granting of exploration permits under Law 17.319 is an ideal procedure for channeling investments leading to the discovery of hydrocarbons," he said.

Finally, he stressed that the policy implemented in the field of hydrocarbons "promotes, through the various programs that integrate it, the integration of new reserves and the recovery of production".