Gas y Petróleo del Neuquén S.A. Launched the V Bidding Round of the New Horizons Plan
On 22 May 2017 Gas y Petróleo del Neuquén S.A. - GyP - (company owned by the Province of Neuquén) launched the Public Tender No. 1 of the Round V referred as to the "New Horizons Plan" (Tender) to award companies interested in the exploration, development and potential exploitation of the following 6 non‑conventional oil/gas areas located in the Province of Neuquén (i) La Tropilla; (ii) Bajo del Toro Este; (iii) Parva Negra Oeste; (iv) Aguada de Castro Oeste Bloque I y Bloque II; (v) Cerro Arena Sur; and (vi) Las Tacanas Norte.
The Tender indicates that GyP will hold a 10% participating interest that shall be carried by the awardees during the exploratory stage and, after declaring a commercial discovery in the relevant area, GyP shall have the alternative to either contribute according to its participating interest, or convert it to a 2.5% net profit interest in production.
The tender documents of each area (Tender Documents) can be obtained without cost until 21 July 2017 (included) through an e-mail submission to this account. The request must include (i) name of the interested company, (ii) identification of the area (or areas) in which the company is interested, (iii) and an e-mail account in which notifications to be communicated during the Tender shall be considered valid.
Obtaining the Tender Documents will enable interested companies to have the corresponding technical information, after the execution of a non-disclosure agreement and the payment of USD 10,000 plus value added tax (21%) per area.
The offers shall be filed with GyP’s offices (Aramendia 200 St., City of Neuquén, Province of Neuquén) on 14 September 2017 between 8:30 am and 4:30 pm, and their opening shall be at 5:00 pm.