Page 16 - LatAmOil Week 03 2021

LatAmOil ARGENTINA LatAmOil

CAN 100 is in the North Argentinian offshore basin (Image: Equinor)

Shell farms into CAN 100 project

EQUINOR of Norway and Argentina’s national The Norwegian company is slated to serve
oil company (NOC) YPF have agreed to team as operator of six out of these eight blocks:
up with Royal Dutch Shell (UK/Netherlands) CAN 100, CAN 108, CAN 114, MLO 121, AUS
for the development of CAN 100, an offshore 105 and AUS 106. The other two, CAN 102
block in the North Argentinian Basin. and MLO 123, are operated by YPF and Total
Currently, equity in the block is split 50:50 (France) respectively.
between Equinor and YPF. Last week, however, CAN 100 was the only block out of the eight
the partners signed a farm-down deal that will in which Equinor secured a stake through a
see both reduce their stakes by 15%, leaving farm-in agreement with YPF, which had pre-
them with 35%. As a result, Equinor noted in viously been the sole owner of the site. It won
a press release, Shell will end up with 30% of stakes in the other seven fields in Argentina’s
equity in the project. First Offshore Licensing Round, which took
The press release did not say when the trans- place in October 2019.
action was likely to be completed. The parties Equinor is also participating in the devel-
are still waiting for Argentina’s government to opment of a number of fields in Argentina’s
approve the farm-down agreement, it noted. The onshore basins. Specifically, the company is
terms of the deal have not yet been disclosed. a party to three exploration licences and one
CAN 100 is the largest block within the development licence in the Vaca Muerta shale
North Argentinian Basin, covering an area of formation. It also serves as operator for two of
15,000 square km. It is one of eight offshore sites these exploration licences, Bajo del Toro Este
in which Equinor secured a stake in 2019. and Aguila Mora Noreste. ™

PERU
PetroTal, Perupetro extend oil sale contract

CANADA’S PetroTal has extended the term of PetroTal announced the extension in a
its crude oil sales contract with Petroperu, the statement dated January 20, saying the deal in
national oil and gas regulatory agency of Peru, question was now due to expire on December
by two years. 23, 2022.

P16 www. NEWSBASE .com Week 03 21•January•2021