YPF to Transfer 50% of CAN 100 Offshore Block in Argentina to Equinor

Updated 2 years 1 month ago

Equinor Exploration EVP Tim Dodson and YPF CEO 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 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.

The CAN 100 block comprises an area of 15,000 sq km. It is the largest block in the North Argentinian Basin. The first exploratory period of four years began when YPF acquired 100% of the block in May 2019. Equinor and YPF are currently partners in 2 offshore blocks in the North Argentinian basin (CAN 102 and CAN 114), which were added in the last bid round conducted by the Argentinian government.