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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.

Our Argentina website

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:

Actividades de Equinor en Argentina (Español) - www.equinor.ar

Our onshore activities in Argentina

Equinor has interests in one exploration licence and one producing block in the prolific Vaca Muerta formation, in the province of Neuquen.

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 kilometres, containing oil and gas at a depth of more than 2,500 metres below the surface. Equinor is a partner in the Bandurria Sur and Bajo del Toro licences.

Bandurria Sur

Equinor entered the licence 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 kilometres (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 licence covers an area of around 157 square kilometres (38,800 acres) in the northern 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 licence in two areas, Bajo del Toro Norte covering 113.8 square kilometres with an exploitation licence of 35 years and, Bajo del Toro, with the remaining 43 square kilometres with a four-year exploration licence extension. The next steps in Bajo del Toro Norte will be a pilot programme of 14 wells.

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% 15012
CAN_108 Equinor 100% 2878
CAN_114 Equinor 50% (o), YPF 50% 7084
CAN_102 YPF 50% (o), Equinor 50% 8921
MLO_121 Equinor 100% 4291
MLO_123 Total 37.5% (o), YPF 37.5%, Equinor 25% 3796
AUS_105 Equinor 100% 2130
AUS_106 Equinor 100% 2161

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 holds the other 50 % of the asset.