The government recently published Decree 872/2018, ordering the Secretariat of Energy to launch the first round of international competitive bidding for offshore exploration permits. Given Argentina's size and the potential for the discovery of new energy sources, the government aims to exploit its resources through effective investment in seismic surveys and hydrocarbon explorations in partnership with major oil and gas companies.
The Ministry of Energy and Mining recently issued Resolution 197/2018, which details the requirements and procedures relating to obtaining reconnaissance permits and the commercial use of data obtained during reconnaissance activities along the Argentine Continental Shelf. Although the Ministry of Energy and Mining has already granted a number of offshore exploration licences, significant potential for offshore basin exploitation remains.
This update has been removed at the request of the authors.