Within the neighborhood borders, Chile and Argentina have held several border disagreements, most of which have been settled by the end of the 20th century. From this perspective stands out Southern Ice Fields (Chile) or Continental Ice (Argentina), which have one of the most important water reserves in the southern hemisphere, since its glaciers feed a number of bodies of water in Patagonia. However, their discussion prompted diplomatic negotiations in the 1990s, to delimit the section of each country, which was settled by the 1998 Agreement. This article aims to analyze the discussions generated around Southern Ice Fields between 1990 and 2012, framed in a strong bilateral relationship that has progressed the points of agreement between the two countries, but has failed to delimit definitely this point, which can be crucial in the freshwater conversations of the future.