Page 12 - LatAmOil Week 45 2022

LatAmOil ARGENTINA LatAmOil

Argentina extends exploration

licence for MLO_113 by one year

ARGENTINA’S Energy Secretariat has agreed the government body had noted in a previous
to extend the term of the exploration permit resolution. Additionally, they pointed to delays
granted to subsidiaries of ExxonMobil (US) and arising from the coronavirus (COVID-19)
QatarEnergy for MLO_113, a block in the West pandemic.
Malvinas basin off the coast of Tierra del Fuego Under these conditions, Buenos Aires finds
Province. it “convenient to grant a reasonable period of
The government body granted the extension time to carry out the pending activities and
on November 4 and made its decision public on their subsequent interpretation and technical
November 7. On the latter date, it published a and economic evaluation,” it said. As such, the
resolution saying it had pushed the expiration secretariat extended ExxonMobil and QatarEn-
date of the permit awarded to ExxonMobil ergy’s permits for MLO_117 and MLO_118 in
Exploration and Production Offshore Argen- September, Mercopress reported.
tina and QP Oil and Gas back by one year. Equity in the MLO_113 project is split
The secretariat did not specify exactly when between ExxonMobil, the operator, with 70%;
the permit was now due to expire. Mercopress and QatarEnergy, with 30%. ™
reported, though, that the new closing date
would fall sometime in 2024.
The ExxonMobil and QatarEnergy subsidi-
aries gained the right to work at MLO_113 in
May 2019, when they won auctions for three of
the blocks included in the Offshore International
Public Tender. That bidding contest included 18
licence areas in three offshore basins.
ExxonMobil and QatarEnergy offered to pay
a total of $94.45mn for the three blocks they won
– MLO_113, MLO_117 and MLO_118. They
made bids of $30.1mn, $34.45mn and $29.95mn
for those three blocks, respectively.
The two companies had already asked
Argentina’s Energy Secretariat to extend their
deadlines for exploration work at the other
two offshore blocks. They said they needed
more time partly because of difficulties in hir-
ing the specialised vessels needed to look for
hydrocarbons at offshore sites, explaining that
the availability of such vessels “depends on the
level of activity, [the] logistics of the operation
and weather windows, among other variables,” The MLO_113 block is in the West Malvinas basin (Image: Energy Secretariat)

Pampa Energía will invest $550mn in 2023

to boost unconventional gas production

MARCELO Mindlin, the president of Argen- Speaking at a site operated by the company in
tina’s Pampa Energía, said last week that his Patagonia in southern Argentina, Mindlin said
company intended to spend $550mn next year that part of this sum would be used to secure
on efforts to increase production rates at uncon- drilling technology – namely, equipment for the
ventional gas fields in the Vaca Muerta shale hydraulic fracturing (fracking) process, which is
formation. often utilised at unconventional fields.

P12 www. NEWSBASE .com Week 45 09•November•2022