Perspectives from Offshore Argentina

A Prospectivity Overview Introduction

• Argentina Offshore License Round 1 – 14 blocks Argentina North, 24 Austral-Malvinas • Offshore Round 2 – Argentina South • Proven petroleum system along Atlantic margin • 52,000 km of long offset 2D data acquired 2017-18, PSTM & PSDM Atlantic Margin Structure Shelf Ewing Terrace Deep Basin

NW SE Jurassic Basins SDR Zone

Outer High

Oceanic crust

Continental crust

320km PSDM Shelf – Rio Salado Basin Play Types

NW SE

Drapes & onlaps Syn-rift channels & Pre-rift on basement ponded sands in half truncations highs grabens

Pre-rift sandstones in structural closures & Fractured Basement

70km PSDM Slope – Ewing Terrace & Outer High

NW SE

120km PSDM Thickening of Cretaceous sediments associated with Rio Colorado fan Deep Water – Aptian Source Correlation

Argentina Basin Orange Basin

Aptian source Aptian source From seismic character & Proven in wells in Namibia correlation with conjugate

150km section 150km section Deep Water – Uruguay Raya 1

NW SE

RAYA-1

Cenozoic Post-Rift

Cretaceous Post-Rift

SDRs Aptian Source?

Oceanic Crust

210km PSDM Excellent reservoir quality in Cenozoic sandstones, but no charge Deep Water – Argentina Basin

SW ARGENTINA URUGUAY NE INTERNATIONAL BOUNDARY

Cenozoic Post-Rift

Cretaceous Post-Rift

Oceanic Crust

Arbitrary Line – 690km PSTM Rio Colorado Fan was a key sediment source in Cretaceous in Argentina Argentina Basin – Play Example

Sprague et al (2005)

• Coarse-grained channels & fine-grained contourite drift mounds formed by deep water processes • Well-sorted, clean

1km sandstone reservoirs 80km PSDM Strike predicted by model Argentina Basin – Play Example

NW SE STRIKE STRIKE INTERSECTION

1Km 70km PSDM Dip Argentina Aptian Source

Final PSTM Dominant Frequency Attribute Type 4 AVO anomaly Argentina Basin – Play Example

NW SE Carbonates on SDRs Confined channel complexes – High amplitude anomalies, AVA supported STRIKE STRIKE INTERSECTION

SDRs

Oceanic Crust transition zone 1Km 70km PSDM Dip Aptian source modelled in oil window Argentina Basin – Play Example Argentina Sergipe • Sergipe 1900km² Drift mounds Fine-grained with sediment (3BBO) drift mounds waves Argentina 5700km² • AVA anomalies • Overlie oil- mature Aptian source • Sealed by fine- grained drift mounds Sergipe Poco Verde 4 Discovery Dry Oil (F-N*F)

SEG negative polarity 85m net pay Dip Sands = Hard kick Oil Green AVO anomaly = AVO Type I Argentina Basin – Play Example

SW ARGENTINA URUGUAY NE INTERNATIONAL BOUNDARY

Arbitrary Line – 690km PSTM Numerous confined channel complexes in Rio Colorado Fan sediment wedge Austral-Malvinas Basin

• Previous exploration success – 7 bboe recoverable discovered in Austral basin • Relatively shallow water – up to 500m • Proven petroleum system • PSTM & PSDM 2D data available Austral-Malvinas Regional Geology

• Late Jurassic/ Early K separation from Antarctica Tierra del Fuego • Thrust belt & Platform foreland basin development in Cenozoic Outeniqua and Malvinas Pull Apart Basins Mavinas Pull Apart Basin Outeniqua Pull Apart Basin Coast line

Southern Gamtoos Basin

KPSDM FWI (Source: IHS, 2012) Austral-Malvinas Basin Architecture CALAMAR 1&2 CAMARON 1 SALMON 1

NW SE Tierra del Fuego Platform

Forebulge

Foreland Orogenic Wedge 1Km 310km PSDM Austral Malvinas – Offshore Exploration History

• 51 exploration wells in Austral Basin, 20 in Malvinas Basin Krill 1 – Oil Calamar 1 – (Springhill); Oil (Springhill) • Most success from gas shows Salmon 2 – Oil Lower K/ Upper J (Springhill) and gas Springhill Fm Salmon 1 – Oil with gas shows sandstones (Paleocene & Springhill) • Fold & thrust belt unexplored Ciclon 1 – Oil from Margas Verdes Summary