Inpex to get stake in block off Uruguay

Inpex Corp., through a subsidiary, has agreed to acquire a 30% participating interest in Area 15 offshore Uruguay from a subsidiary of Tullow Oil PLC (see map, OGJ, May 7, 2012, p. 60).

The block covers 8,030 sq km about 200 km from the coast with water depths of 2,000-3,300 m.

Tullow Uruguay Ltd., which acquired the block in Uruguay’s second bidding round, will remain operator with a 70% participating interest (OGJ Online, Mar. 30, 2012).

Exploration, including acquisition of 3D seismic data, began last December.