BGP Prospector vessel ready to search for oil in Argentina

Isbel Lázaro.
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Inspenet, October 14, 2023.

The BGP Prospector is currently approximately 320 km off the coast of Mar del Plata, Argentina, where it is preparing to begin seismic exploration operations. The main purpose of this mission is to evaluate the presence of possible hydrocarbon reserves in the waters of the Argentine sea. At the same time, the vessel Geo Service I, in charge of providing logistical support to Prospector, is en route to the same area.

Despite the discretion maintained by the companies that won the tender for the Can-100 Zone (which includes Equinor, YPF and Shell) regarding the progress of the activities, the specialized vessel from Bahamas arrived at the Port of Buenos Aires on Thursday and, in the last few hours, has already reached the exploration region.

BGP Prospector vessel for offshore exploration

The next step in this process will be to conduct a comprehensive survey of the Can-100 region to assess the seafloor and rule out the presence of mammals in the research area. Once this analysis phase is completed, the Prospector vessel will deploy its array of hydrophone-equipped probes and execute a technique known as “airgunning” to send sound waves through the various geological layers of the seafloor.

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This will allow an interpretation of the characteristics of the site and, based on the data obtained in the geological studies, the experts will be able to determine whether or not there are oil reserves or their derivatives in that area.

Although this initial phase is only the beginning of a project that will require several years of work, expectations for the potential of the area are enormous. Previous exploratory analysis indicated that this initial project could have an estimated production capacity of 250,000 barrels per day. This figure is equivalent to YPF’s current combined oil production, both conventional and unconventional, and represents a quarter of the total oil production in the country.

Likewise, the Province emphasized that this offshore project would generate 22,000 direct jobs and 110,000 indirect jobs.

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