According to reports in late-November 2017, the government of Neuquen Province has officially awarded the Bajo del Toro Este concession to Norwegian company Statoil following the operatorâs winning bid for the block during Neuquen V Bid Round in September 2017. The 135.81 sq km Bajo del Toro Este block is situated in the Northeast Platform area of Neuquen Basin, adjacent to the Bajo del Toro block where the company recently signed a preliminary agreement to acquire 50% participating interest from state company YPF with objective in the Vaca Muerta Formation shale. The companyâs investment plan in the block includes the drilling of one exploration well within the four-year exploration period, which starts in 2018. An option to renew for a second four year phase will follow afterwards. Pending positive results, 35 years of production period will follow with an additional option for a ten year extension. Statoil operates the block with 90% interest as provincial company GyP Neuquen holds the remaining 10% stake, although Statoil is expected to carry all of the cost during the exploration period. Each party will pay their participating interest share for the development and production phase. However, GyP Neuquen will also have the option of converting said 10% interest into a 2.5% additional royalty from gross production instead.
Argentina (Neuquen B.) (It's a petroleum rights. Please summarize by yourself). In IHS database: Bajo del Toro op. by YPF (100.0%) to be check.Bajo del Toro Este op. by STATOIL (90.0%, NEUQUEN 10.0%) to be check.