By OGJ editors
HOUSTON, Sept. 15 -- Petróleo Brasileiro SA subsidiary Petrobras Energía SA, Argentina's Energía Argentina SA (Enarsa), and Madrid-based Repsol YPF SA agreed Sept. 12 to form a consortium to explore, develop, and commercialize oil and natural gas on Argentina's deepwater continental shelf.
Petrobras Energía, holding a 35% interest, will serve as operator, while Enarsa will hold 35% of the venture, and Repsol YPF 30%.
The consortium plans to conduct exploration activities in 200-3,000 m of water about 250 km off the city of Mar del Plata, Buenos Aires.
Last January the same group entered into an agreement with Petrouruguay SA, for exploration off Argentina in 150-1,500 m of water in the areas of ENARSA-1 (E1) and CCM2. Petrobras holds a 25% interest in that consortium, while Enarsa and Repsol YPF hold 35% each, and Petrouruguay has 5%.
