Neuquén will advance this Wednesday, August 19, with a new stage in the expansion of Vaca Muerta, when it opens the economic proposals corresponding to 15 hydrocarbon areas offered through Gas y Petróleo del Neuquén (GyP), in a bidding process that has attracted the interest of nearly 20 national and international companies.
The so-called Round 1/2026 constitutes the first mass call of this type made by the provincial company in almost seven years. According to provincial sources, 17 companies acquired the bidding documents, while other firms made inquiries or analyzed the entry conditions.
The map of the areas in call.
Among the companies that confirmed their participation is Continental Resources, the American oil company founded by Harold Hamm that recently entered Vaca Muerta. Brigham Exploration LLC, led by Texas businessman Bud Brigham, is also listed.
Among the Argentine players is Central Puerto, which recently entered the oil business and plans investments of approximately USD 600 million in shale oil assets in the Neuquén Basin. TanGo Energy, a company led by Pablo Iuliano, also showed interest.
The bidding includes the blocks 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 assets present different levels of risk, available infrastructure, and geological characteristics. Some are located near important areas currently developed by companies such as YPF, Chevron, Pluspetrol, and Vista Energy, while others are part of virtually unexplored zones.
One of the blocks considered most attractive is Pampa de las Yeguas Noreste, covering 52 square kilometers. It is located between El Orejano, operated by YPF, and Rincón de la Ceniza, recently acquired by the state oil company after TotalEnergies' exit. GyP identified it as the area with the lowest exploratory risk among those offered.
Gas and Oil of Neuquén
The awarding mechanism will not depend exclusively on the money offered. The proposals will be evaluated using a formula that considers the participation of GyP, royalties, the level of committed activity, and the access bonus.
The provincial company will retain between 10% and 20% participation, while the private entity must fully assume the risk and costs corresponding to the exploratory stage. The scheme allows for up to eight years of exploration and, in the event of a commercial discovery, a production concession of up to 35 years.
