Qatar Petroleum Wins Exploration Rights in 5 Offshore Blocks in Argentina

Doha, April 16 (QNA) - Qatar Petroleum has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. The winning bids were announced today by Argentina's Secretariat of Government of Energy ("SGE") at the end of a public tender process that started in November 2018. They will be subject to customary confirmation and regulatory approvals by the Argentinian authorities, Qatar Petroleum said in a statement on Tuesday. Qatar Petroleum won the exploration rights for blocks MLO-113, MLO-117, and MLO-118 in the Malvinas West basin as part of a consortium comprising an ExxonMobil affiliate (operator with a 70 percent interest) and a Qatar Petroleum affiliate (with a 30 percent interest). Qatar Petroleum also won the exploration rights for blocks CAN-107 and CAN-109 in the North Argentina basin as part of a consortium comprising an affiliate of Shell (operator with a 60 percent interest) and an affiliate of Qatar Petroleum (with a 40 percent interest). Commenting on these results, HE Minister of State for Energy Affairs and President & CEO of Qatar Petroleum 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 Neuqun basin unconventional assets. This important result marks yet another step towards implementing our international growth strategy and maximizing synergies with our existing strong base in Latin America." His Excellency added: "I would like to take this opportunity to thank the Argentinian authorities for their transparent and efficient tender process, and our strategic partners ExxonMobil and Shell for their continued support of our joint future objectives". The exploration blocks offered during the public tender included 38 shallow, deep and ultra-deep water offshore blocks in the Austral, North Argentina, and Malvinas West basins. Qatar Petroleum participated in the bid round as a non-operating partner. (QNA)