Neuquén has launched a new bidding round for 15 hydrocarbon areas held by Gas y Petróleo del Neuquén (GyP), focused on unconventional resources and aimed at expanding frontier areas within the Vaca Muerta formation.
Round 1/2026 includes blocks with potential in Vaca Muerta, Quintuco, and Los Molles in different parts of the province. The areas on offer are Águila Mora Noreste, Cerro Avispa Norte, Cerro Avispa Sur, Cerro Partido Este, Chasquivil Sur, Corralera Noreste, Corralera Noroeste, Corralera Sur, Curamhuele, El Corte, La Hoya, La Tropilla I, Pampa de las Yeguas NE, Santo Domingo II, and Totoral Este. The awards are scheduled for Aug. 19.
The structure keeps GyP as titleholder of the areas and reserves for the provincial company a 10-20% stake in each project. Winning bidders will assume the technical and financial risk of the exploration phase, with an initial period of up to 8 years, divided into two 4-year phases. In the event of a commercial discovery, companies may later access a 35-year unconventional exploitation concession.
Offers will be evaluated based on minimum investment commitments, royalties, access bonuses and exploratory work programs.
Through the bid round, the provincial government aims to bring in new operators, increase competition, and accelerate evaluation of areas that remain less developed than Vaca Muerta’s core blocks.
The round comes following reform of Argentina’s Hydrocarbons Law, the Large Investment Incentive Regime (RIGI), and a new macroeconomic framework. Neuquén’s government is also preparing a scheme of differential royalties for methane destined for LNG projects, aimed at improving the economics of gas developments linked to future liquefaction projects.
