Argentina has announced the launch of an offshore oil and gas block tender in what it says is the last frontier for oil and gas exploration in the southern hemisphere. S&P Global Platts quoted the country’s Energy Secretary Javier Iguacel as saying there was a lot of interest in the blocks, mainly because Argentina’s substantial offshore territory is untapped. According to Iguacel, the geology of Argentina’s continental slope, where the shelf falls into deep water, is similar to the geology of Suriname and Guyana, where oil and gas finds have been made recently. Guyana has become a particularly attractive destination after Exxon announced a whole string of promising discoveries off the country’s shore. Argentina seems to be hoping to repeat this success. The Energy Secretariat is offering 38 blocks, in depths ranging from 100 to 4,000 meters, in three basins, taking in bids in February. To boost the number […]