Equinor and YPF have today entered into an agreement with Shell to jointly farm-down 30% non-operated interests in the CAN 100 block, located 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 license, and will after the transaction hold 35% each, with Shell holding the remaining 30% in the block.
The CAN 100 block comprises an area of 15,000 km2 and is the largest block in the North Argentinian Basin.
The agreement is pending governmental approval.
Date: Jan 14, 2021