ExxonMobil, Qatar Petroleum win exploration rights for offshore blocks in Argentina

US-based oil major ExxonMobil subsidiary ExxonMobil Argentina Offshore Investments and an affiliate of Qatar Petroleum had won exploration rights for three blocks offshore Argentina. The winning bids in the first offshore licensing round in Argentina will be subject to customary confirmation and regulatory approvals by the Argentinian authorities.

The partners secured rights for blocks exploration including MLO-113, MLO-117, and MLO-118 in the Malvinas West basin. ExxonMobil will operate the blocks with 70% stake while Qatar Petroleum affiliate will own the remaining 30% interest. Additionally, Qatar Petroleum, in consortium with an affiliate of Shell, has won the exploration rights for blocks CAN-107 and CAN-109 in the North Argentina basin.

Qatar Petroleum president and CEO Saad Sherida Al-Kaabi said: “We are pleased to have been awarded these offshore exploration blocks, which further strengthen QP’s footprint within Argentina along with our existing Neuquén basin unconventional assets.

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