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6 FAQs about [Argentina deep water well drilling rig price inquiry]
Is deepwater drilling a good idea in Argentina?
Deepwater drilling for oil and gas is gaining a fresh foothold in Argentina, defying climate warnings and predictions for falling demand. A top European oil company is about to plunge a drill-bit into South Atlantic waters off Argentina that are at least as deep as five Eiffel Towers.
Can Equinor drill a deepwater well in Argentina?
Equinor and partners have been granted permission to drill the country's first offshore ultra-deepwater well, Argerich-1, in the Argentina Basin's CAN-100 block. Most of the country's hydrocarbon exploration is concentrated onshore (with both conventional and unconventional plays), and in shallow shelf waters of the Austral and Malvinas basins.
Will Argentine drill a deepwater well in the can-100 block?
An announcement made by the Argentine government in early July 2023 has focused attention on offshore activities. Equinor and partners have been granted permission to drill the country's first offshore ultra-deepwater well, Argerich-1, in the Argentina Basin's CAN-100 block.
Is Argentina's first ultra-deepwater exploration well dry?
In a significant development for Argentina's energy sector, the country's first ultra-deepwater exploration well, Argerich-1, has been declared dry.
What is Argentina's offshore hydrocarbon potential?
Despite the dry well, Argentina's offshore hydrocarbon potential remains vast. According to a YPF presentation, the country's offshore resources are estimated at 31 billion barrels of oil equivalent, compared to the 29 billion barrels in the onshore Vaca Muerta formation.
Did YPF & Equinor drill into Argentina's offshore hydrocarbon potential?
The Argerich-1 well, a collaboration between Equinor, state-controlled YPF (35%), and Shell (30%), aimed to tap into Argentina's offshore hydrocarbon potential. Despite extensive drilling efforts, Equinor confirmed that no clear signs of hydrocarbons were detected.