document: According to local reports in early-January 2020, state company Petropar has launched a call for bids on its Petropar II, Petropar IV, and Petropar V blocks to look for potential partners to perform exploration work on said areas through a Production Sharing Agreement where the state company will hold an interest between 20% to 40%. It was said that interested companies with at least five years of international E&P experience and certified average production level of 1 Mboe/d over the last three years are expected to submit their qualifications by 6 March 2020, followed by their technical and economic offers which are due by the end of the same month.  Minimum commitments reportedly include evaluation of historical technical data of the block, Environmental Impact Assessment (EIA), reprocessing of existing seismic data geophysical data as well as new acquisition of 500 km of 2D seismic during the prospection stage. Meanwhile, additional commitments during the exploration phase include acquisitions of 2D & 3D seismic and other geophysical surveys and studies in the area along with drilling of exploration wells. The winning proposals are scheduled to be announced in the first week of May 2020, followed by official awards by the end of the same month.  Petropar II and Petropar IV (also known as La Patria) blocks cover 6,079 sq km and 8,003 sq km of land, respectively, in Chaco Basin (or Curupayty Basin). Meanwhile, Petropar V (also known as Demattei) block covers 7,996 sq km of land in Pirity Basin (or Cretaceous Basin). The area of the blocks included several P&A'd wells, with none of them drilled since the late 1980's.      In addition, Petropar reportedly still plans to look for partners on Petropar I (Palo Santo) and Petropar III (Curupaity) blocks as well after the last call for the blocks was declared null and void in 2018.  Background Information  No commercial hydrocarbon production has been established in Paraguay. Local reports indicate that small volumes of gas have been produced over the years in the Gabino Mendoza block for local consumption. However, the production volumes have never been officially reported.
summary: According to local reports in early-January 2020, state company Petropar has launched a call for bids on its Petropar II, Petropar IV, and Petropar V blocks to look for potential partners to perform exploration work on said areas through a Production Sharing Agreement where the state company will hold an interest between 20% to 40%. 