Nine Mesozoic‐Tertiary basins of different orientations lie along the Argentine continental margin, over a distance exceeding 2,000 km: these are the Salado, Colorado, Valdes, Rawson, San Jorge offshore, North Malvinas (San Julian), West Malvinas and Magallanes (Austral) Basins on the Continental Shelf, together with the Continental Slope. These basins formed following the latest Jurassic — Early Cretaceous extension that accompanied the onset of South Atlantic rifting. Strain was modified by earlier basement fabrics, with consequent transtension. The Cape Fold Belt (Permo‐Triassic) provided a NW‐SE grain to pre‐Mesozoic cover off NE Argentina. In the central‐southern sector, several phases of oblique NEwards Pacific subduction and terrane accretion during the Permo‐Triassic formed back‐arc basins and volcanic belts, producing a more variable fabric orientated close to NNW‐SSE. Atlantic basin fill, of Lower Cretaceous‐Tertiary clastics, was deposited as a result of rift‐shoulder erosion and Atlantic flooding, following eastward tilting. Basin fill thickness is typically 2–4 km, but locally exceeds 6km. The hydrocarbon potential of these basins hinges as much upon the preservation of source rocks within the pre‐rift succession as it does on that of those within the base‐rift succession, and subsequent Atlantic anoxic events.