Big names bid in Argentina's offshore auction
Some of the world's biggest oil companies get involved in Argentina's first offshore licensing round in almost three decades
Argentina is attempting to emulate the recent offshore advances made by Latin American neighbours such as Brazil and Guyana, while also looking to replicate the US shale boom in the Vaca Muerta. The country's first offshore bid round for 30 years closed on 16 April and attracted bids worth $995mn from some of the world's biggest E&P companies. In the end, 13 firms bid for 18 of the 38 blocks that were auctioned. ExxonMobil, Norway's Equinor, Shell, Total and BP were among those that acquired acreage in the auction. The uniqueness of the round played a part in attracting interest, with many of the bidders identifying it as a window of opportunity that might not come around again soon. Jim
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
