MercoPress. South Atlantic News Agency

Norway's Equinor, YPF and Shell will operate a block in North Argentine basin

Equinor and YPF currently both hold 50% equity in the license. After the transaction each will hold 35%, with Shell holding the remaining 30% in the block

Norway's Equinor and YPF have entered into an agreement with Shell to jointly farm-down 30% non-operated interests in the CAN 100 block in the North Argentine basin, offshore Argentina.

 

 

In October 2019, Equinor farmed in to the YPF CAN 100 block and agreed to take over the operatorship. Equinor and YPF currently both hold 50% equity in the license. After the transaction each will hold 35%, with Shell holding the remaining 30% in the block.

The CAN 100 block comprises an area of 15,000 sq km and is the largest block in the North Argentine basin. The agreement is pending governmental approval.