- Oil majors are evaluating bids for offshore exploration rights in Argentina, Reuters reports, which would mark a major change in a country that has seen little offshore exploration for decades.
- Companies including Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B) and Statoil (NYSE:STO) tell Reuters that hey are looking at bidding in auctions to be held later this year, and a government official says Exxon (XOM -0.7%) and Chevron (CVX +0.7%) also have shown interest.
- “Growing confidence in the current government’s policies - their focus on trying to create an environment that is attractive for investments - has been the big change,” says Shell’s head of deepwater Wael Sawan.
- While little exploration has been done outside the Austral basin, YPF has identified 22M boe for further investigation, the company's upstream head said recently.
- Argentina will take bids for three offshore basins from July through November.
- Now read: Statoil: Wind Power To Stimulate Growth
Original article