Three-company group gets blocks off Uruguay

02/22/2010
A three-company group has signed an agreement with Uruguay's state ANCAP, Montevideo, to explore two blocks on the Uruguayan continental shelf.Petroleo Brasileiro SA of Brazil will operate one of the blocks, and Argentine firm YPF SA will operate the other. Galp Energia of Portugal is the third company in both groups.Signing of the production sharing agreement completes the bid process for the exploration blocks under Ronda Uruguay 2009 for the Pelotas and Punta del Este basins. The partnership made the best offer in July 2009 for Blocks 3 and 4 in the south-southeastern region of the Punta del Este basin (see map, OGJ, July 20, 2009, p. 40).Block 3 is 300 km off Uruguay in 200-1,500 m of...
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