Spectrum ASA

11/07/2018 | Press release | Distributed by Public on 11/07/2018 03:57

Argentina Offshore License Round Opens

Argentina's highly anticipated offshore license round has officially opened with interested parties now invited to register their eligibility and submit bids by the closing date, set for March 14, 2019.

This inaugural round presents a truly exciting opportunity in one of the last unexplored territories on the globe. The acreage on offer has seen very few wells drilled yet the hydrocarbon system has been proven.

Furthermore, the legal framework created in advance of this round is both robust and favorable for explorers; Argentina's mature onshore plays mean that the country's energy secretariat knows what is necessary to attract and sustain oil company investment.

This mix of constructive above-ground conditions and under-explored territory make Argentina's offshore acreage arguably the most attractive available globally over the next 12 months.

Austral-Malvinas Basin

A total of 24 blocks have been issued across the Austral and West Malvinas basins which are covered by Spectrum's 2018 2D Multi-Client seismic data. This broadband-processed survey consists of 14,000 line km of long offset, continuously-recorded data with extended recording lengths and high fold to support full interpretation from Moho to water bottom. The area covered by this data is considered to be the most prospective in the basin.

Argentina Basin

Fourteen blocks have been made available in the Argentina Basin. Spectrum's new 38,000 km Multi-Client 2D seismic survey has been specifically designed to image the area included in the license round and every block is covered by new long offset data- the primary resource available to understand the prospectivity of the acreage on offer.