Shell joins Equinor, YPF in offshore Argentina block

Equinor and YPF have entered into an agreement with Shell to jointly farm-down 30% non-operated interests in the CAN 100 block in the North Argentinian basin, offshore Argentina.

In October 2019, Equinor farmed-in to the YPF CAN 100 block and agreed to take over the operatorship. Equinor and YPF currently both hold 50% equity in the licence.

After the transaction each will hold 35%, with Shell holding the remaining 30% in the block.

The CAN 100 block comprises an area of 15,000 square kilometres (5,791 square miles) and is the largest block in the North Argentinian basin.

The agreement is pending governmental approval.

Source: Offshore Magazine