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LatinNews Regional Monitor: Brazil & Southern Cone - 17 April 2019

In brief: Argentina

* Argentina’s finance ministry has revealed that it has received bids equivalent to US$995m from 13 different firms for the country’s first ever offshore oil and gas exploration concessions tender. A ministerial statement says that bids were received for 18 of the 38 concession blocs on offer which are located in the ‘Austral’, ‘Argentina Norte’, and ‘Malvinas Oeste’ fields in Argentina’s South Atlantic territorial waters. The statement highlights that in addition to oil majors Total, ExxonMobil, and Shell, four other foreign firms that currently don’t have any operations in Argentina - Mitsui, BP, ENI, and Tullow Oil - also took part in the tender. While some of companies such as ExxonMobil and Shell have already announced that they have been notified that they have won some concessions, the ministerial statement says that the full results of the tender would be released next month.