Argentina Launches Tender for Hydrocarbon Exploration in Mendoza Province
Mendoza, Argentina – The Mendoza provincial government has announced a public tender for the exploration and exploitation of hydrocarbons, signaling a renewed push to develop the region’s energy resources. Managed by the Hydrocarbons Directorate under the Subsecretary of energy and Mining, the tender offers 25-year exploitation concessions and aims to attract investment in Mendoza’s hydrocarbon potential.
This tender arrives as Argentina seeks to bolster domestic energy production and reduce reliance on imports. The initiative is governed by Laws No. 17,319 and No. 7,526 and is expected to draw interest from both national and international energy companies. Successful bidders will be granted rights to explore and exploit hydrocarbons within designated areas of Mendoza, possibly unlocking significant reserves and contributing to the province’s economic growth.
Key conditions for securing a concession include an initial payment equivalent to 0.5% of the projected cumulative production (Np) for the first 10 years of the exploitation plan. This payment can be made pro rata over the first 10 years of the concession, upon request to the enforcement authority within 30 calendar days of the award decree’s publication. importantly, the concessionaire will not be responsible for any existing environmental liabilities associated with the areas.
The bidding process, with deadlines for specification purchases, technical information submission, and bid openings to be announced by the Hydrocarbons Directorate, requires a payment of USD 15,000 (payable in Argentine pesos at the Banco de la Nación Argentina exchange rate) to Fideicomiso de Actividades Hidrocarburiferas. Account details are: peso current account no. 0020034-9 081-1, CBU 0070081820000020034913, CUIT No. 30-71723926-8,as authorized by Decree No.909/2021.
Further details regarding the tender can be found at: https://boe.mendoza.gov.ar/default/public/publico/verpdf/32472
