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Equinor's Expands its Cooperation with YPF for Offshore Exploration in Argentina

Gasoil News - Published on Fri, 23 Aug 2019

Image Source: Equinor’s
Mr Tim Dodson, Equinor’s executive vice president for Exploration and YPF's CEO Mr Daniel Gonzalez have signed an agreement to jointly explore the CAN 100 offshore block, located in the North Argentinian Basin. The preliminary agreement, which was signed at Equinor’s office in Oslo, Norway, sets the core terms and conditions for YPF’s transfer of 50% of its share in the CAN 100 offshore block and will enable both companies to expand their alliance and move forward with the exploration process in the Argentinian offshore.

Mr Tim Dodson, Equinor’s executive vice president for Exploration, said that “We are delighted with this opportunity to continue and expand our close partnership with YPF in Argentina. Currently we are partners in two offshore blocks in the same area, and we are jointly exploring onshore opportunities in the Vaca Muerta formation in the Neuquen province. We are looking forward to collaborate closely with YPF on this new exploration opportunity.”

Mr Dodson said that “Through this agreement Equinor strengthens its position offshore Argentina, in line with our exploration strategy to access at scale in basins with high impact potential.”

Mr Daniel Gonzalez, YPF´s CEO, said that ‘We have a strong relationship with Equinor based on mutual trust built on the development of exploration and unconventional projects. This new agreement deepens our bond with Equinor and allows us to learn from their undisputed experience in offshore projects worldwide.’

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Posted By : Sanju Moirangthem on Fri, 23 Aug 2019
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