Pérez Alati, Grondona, Benites & Arntsen (“PAGBAM”) advised the awardees on all aspects of National Public Tender No. 006/2025, launched by FOMICRUZ S.E., for the acquisition of ten conventional oil blocks originally held by YPF S.A. in the province of Santa Cruz, Argentina.
The project is one of the most significant milestones in conventional hydrocarbon production in recent years, involving over USD 1.2 billion in investment to reactivate oil and gas production in the San Jorge Gulf Basin and strengthening the participation of national SMEs.
Project Scope
The tender covers the areas of Los Perales–Las Mesetas, Las Heras–Cañadón de la Escondida, Cañadón León–Meseta Espinosa, El Guadal–Lomas del Cuy, Cañadón Yatel, Pico Truncado–El Cordón, Cañadón Vasco, Barranca Yankowsky, Cerro Piedra–Cerro Guadal Norte, and Los Monos.
The six national companies that had originally submitted a private initiative to take over the concessions— Patagonia Resources S.A., Clear Petroleum S.A., Quintana E&P Argentina SRL, Roch Proyectos S.A.U., Azruge S.A., and Brest S.A.—submitted a joint bid seeking to enhance operational efficiency and the sustainability of conventional production through a long-term technical and financial cooperation scheme.
Legal advice
PAGBAM's work included providing comprehensive legal advice on contractual and regulatory matters for both the private initiative and the bid, including the legal structuring of the consortium and compliance with the tender requirements, in a context of economic and political relevance for the energy development of Northern Santa Cruz.
PAGBAM's team was led by Energy Head Francisco Javier Romano and Manuel Benites (Tax), together with Counselor Tomás Fernández Madero and Associates Lara Arce and Abril Torres.
This deal strengthens PAGBAM's position as a leading law firm in energy and natural resources transactions and further solidifies its track record in strategic investment and asset restructuring projects in Argentina's hydrocarbon sector.
