Argentina

Equinor entered Argentina in 2017 where we participate in exploration licences both on- and offshore, as well as in projects within renewables. We opened an office in Buenos Aires in 2018. In January 2020, we announced a strengthening of our presence in Vaca Muerta.

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How to find us in Argentina

255 Cecilia Grierson Boulevard
4º Floor
(C1107CPE) Buenos Aires
Argentina
Phone: +54 (11) 4590 2200

For more information about Equinor’s activities in Argentina in Spanish, please follow this link:

Our onshore activities in Argentina

Equinor is developing its presence in the Neuquén basin with interests in two producing blocks under development in the prolific Vaca Muerta play.

Argentina’s unconventional oil and gas resources are among the world’s largest. Vaca Muerta is a geological formation in the Neuquén basin covering 30,000 square kilometers, containing oil and gas at a depth of more than 2,500 meters below the surface. Equinor is a partner in the Bandurria Sur and Bajo del Toro licenses.

Bandurria Sur
Equinor entered the license in 2020 and holds a 30% non-operated interest. YPF as the operator has a 40% interest and Shell, as non-operated partner, holds the remaining 30% equity interest.

The block is in the early development phase with a current production of around 25,000 barrels of oil equivalent per day from 50 producer wells. It covers around 228.5 square kilometers (56,000 acres) located in the core area of the prolific Vaca Muerta play. Future development includes drilling 300-500 additional wells and building an oil central processing facility with capacity of 75,000 barrels of oil per day.

Bajo del Toro 
In August 2017, Equinor and, Argentina’s leading energy company, YPF entered into an agreement to jointly explore hydrocarbons in the Bajo del Toro block. Equinor holds a 50% interest and YPF, as the operator, has the remaining 50%. The Bajo del Toro license covers an area of around 157 square kilometers (38,800 acres) in Nothern area of Vaca Muerta. The area has light oil potential.

In 2021, the partners obtained new concessions from the province of Neuquén. The new agreements split the license in two areas, Bajo del Toro Norte covering 113.8 square kilometers with an exploitation license of 35 years and, Bajo del Toro, with the remaining 43 square kilometers with a 4-year exploration license extension. The next steps in Bajo del Toro Norte will be a pilot program of 14 wells.

Focused onshore strategy
Equinor was awarded the Bajo del Toro Este exploration license in 2017 and the Aguila Mora Noreste exploration license in 2019, both as operator. In June 2021, Equinor announced a focused international strategy at its Capital Markets Day. The adjusted strategy entails prioritizing Equinor’s efforts where we have true industry-leading experience - offshore. We will no longer operate onshore unconventionals. Instead, we will partner onshore with the best local companies. That way, we can enjoy regional expertise and economies of scale in a way that we never could as an onshore operator. We will support these operators wherever we can, wherever we can add value and reduce carbon. Consequently, Equinor relinquished its operatorship and license interest in the Bajo del Toro Este and Aguila Mora Noreste licenses in 2021.

Our offshore actvities in Argentina

In 2019 Equinor added eight offshore exploration blocks in Argentina to its portfolio. 

Equinor were granted permits for five blocks as operator and participated in winning bids for one block to be operated by YPF and one block to be operated by Total, in the 1st Offshore Licensing Round in April 2019. In August the same year Equinor farmed into the CAN_100 block with YPF in the North and took over operatorship. Following a farm-in agreement signed with Shell 14 January 2021, Equinor and YPF hold 35% each, with Shell holding the remaining 30% in the block.

The blocks are spread across various basins and plays and adds significant prospective acreage to Equinor’s exploration portfolio and fit with our exploration strategy, providing us with access at scale in basins with high impact potential. 

BLOCKS OVERVIEW BLOCK SIZE KM2
CAN_100 Equinor 35% (o) ,YPF 35%, Shell 30% 15000
CAN_108 Equinor 100% 2882
CAN_114 Equinor 50% (o), YPF 50% 7079
CAN_102 YPF 50% (o), Equinor 50% 8965
MLO_121 Equinor 100% 4291
MLO_123 Total 37.5% (o), YPF 37.5%, Equinor 25% 3787
AUS_105 Equinor 100% 2157
AUS_106 Equinor 100% 2283

Our renewable activities in Argentina

In June 2018 Equinor acquired a 50 % interest in the Guañizuil IIA solar asset from Martifer Renewables. The project, located in the San Juan Province, has a potential to provide around 80.000 Argentine households with renewable energy. The Norwegian solar power producer Scatec Solar holds the other 50 % of the asset.