In the recitals of the three regulations it was stated that “various companies in their capacity as operators, owners and/or representatives of companies holding exploration permits”. They had asked the Secretariat led by Darío Martínez “to suspend the term of the first exploratory period.”
The requests were based on the fact that “the exploration of hydrocarbons in offshore areas is carried out mainly through the acquisition of seismic to know the potential of the hydrocarbon resources that are available in a certain place.”
That entails “lthe contracting of ships specially designed to carry it out, whose availability depends on the level of activity, logistics of the operation and weather windows, among other variables” that experienced delays as a result of restrictions on international transit due to the pandemic in 2020 and part of 2021 .
For these reasons, Energy considered it “advisable to grant a reasonable term for carrying out the pending activities and their subsequent interpretation and technical and economic evaluation.”
The three areas were awarded in May 2019, within the framework of an award process of 18 areas for a total of US$724 million. For the CAN_108 area, located about 400 kilometers from Mar del Plata, Equinor offered US$16,170,000; for CAN_113, the UTE of Total Austral and BP offered US$8,680,000 and for MLO_122, Tullow submitted an offer for US$43,660,000.
Source: Ambito
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