Argentina has awarded 5 oil companies licenses to explore for hydrocarbons offshore, in the country’s continental shelf, in an area identified as the Argentine Sea, or South Atlantic, which basically extends between the continent and the Malvinas Islands.
Those companies are Total Austral, BP Exploration, Tullow Argentina, Pluspetrol and Wintershall DEA, according to the Energy Secretary.
The resolution says that “the incorporation of new reserves and the recovery of production, with the purpose of ensuring self-sufficiency, is part of the main objective, of satisfying the hydrocarbons needs of Argentina with the production of its own fields”
Exploration in the Argentine continental shelf and the different exploration basins it holds, is essential since many are unexplored and the lack of existing information is a fact, argue the different resolutions. The total area awarded to be explored covers some 27.803, sq kilometers and permits are granted for an eight year period.