The second round was originally marketed as focused on Vaca Muerta’s gas window but will now feature petroleum-linked opportunities through the YPF blocks. Figueroa positioned the expanded tender as part of a provincial strategy requiring over one billion dollars annually in infrastructure investment to support production growth. The governor emphasized that geological potential alone will not sustain development without infrastructure, legal certainty, competitiveness and skilled labor. “Vaca Muerta is a necessary condition, but not sufficient,” he said.
The announcement comes as Gas y Petróleo del Neuquén continues evaluating Envelope A submissions from the first round launched in May. Twenty proposals from ten bidders were received for eight of fifteen areas offered, with seven blocks attracting multiple bids and one drawing a single offer. Seven areas received no interest. Envelope B openings containing economic proposals are scheduled for the third week of September, with awards projected for October. Figueroa indicated blocks that failed to attract bids in the first round could be reconsidered in future tenders based on technical knowledge evolution and investment opportunities.
The governor’s Houston presentation stressed Neuquén’s continuity of hydrocarbon policy across administrations as a key factor in investor confidence, despite political transitions including his own arrival in December 2023 after six decades of Movimiento Popular Neuquino governance. Figueroa also highlighted infrastructure coordination with Río Negro province and development of Punta Colorada port as an export gateway for Neuquén crude and gas production.
This article was curated and published as part of our South American energy market coverage.
