Argentina’s state-controlled oil company YPF is close to confirming a new partnership with Norway’s Equinor allowing the pair to explore a large offshore block in the South American country’s northern waters and underpinning plans to bid together in the nation’s recently launched offshore licensing round.
The pair already have a 2016 co-operation agreement to study opportunities in a vast and underexplored Argentine offshore play, and the farmout will be the first step towards a firm business venture.
