El Medanito oil and gas area receives three concession bids

Three companies have submitted proposals for the 25-year concession of the El Medanito hydrocarbon area in La Pampa, Argentina. The bidders are Azruge S.A., Capex S.A., and Ribeiro SRL.

El Medanito is a critical energy zone, accounting for more than 30% of the province's oil production and over 56.6% of its gas production. The area covers 828 square kilometers.

The bidding process involved the opening of technical and economic envelopes at the provincial government house. A commission composed of representatives from both the Executive and Legislative branches will now evaluate the proposals to ensure compliance with the established requirements. Following this review, the commission will issue a recommendation to the Provincial Executive Power to finalize the adjudication.