Argentina to Launch International Auction on Vaca Muerta in March

Patagonia’s Minister of Energy Guillermo Coco said that his district would launch a new international auction in March next year to develop part of the massive Vaca Muerta shale formation.

According to the local newspaper Rio Negro, the development will take place through a cooperation of the Patagonia district, Argentina-based companies and international investors.

“We are speaking about organising an international auction on different parts of Vaca Muerta. We want to have a deeper understanding of the market, although we already know the existing interests,” Coco explained to the local newspaper, reminding how different the conditions are with respect to the previous licensing round. 

The 500-square-kilometer area was licenced in 2008.The Vaca Muerta field was discovered in 2010 by Repsol-YPF.

Coco also said that the province intends to present at least four new blocks.