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Uruguay attracts interest in its first licensing round

05/18/2009
Uruguay, with no current oil and gas production, has completed the qualification step of its first offshore bid round, offering 11 continental shelf blocks that drew interest from six operators.The Administracion Nacional de Combustibles, Alcohol y Portland (ANCAP) opened the 2009 Uruguay Round last year and adjusted terms in March to reflect the slump in global oil and gas prices.On May 6 the government said ANCAP is evaluating information submitted from BHP Billiton, Galp Energia SGPS SA of Portugal, Petroleos de Venezuela SA (PDVSA), Petrobras of Brazil, and Pluspetrol and YPF SA of Argentina. Qualifying companies will be able to submit bids.This article presents a general background o...
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