Uruguay

Uruguay’s Ancap accepted the bids it received in July 2009 for two blocks in the Punta del Este basin in the country’s first licensing round.

By OGJ editors
HOUSTON, Oct. 23 – Uruguay’s Ancap accepted the bids it received in July 2009 for two blocks in the Punta del Este basin in the country’s first licensing round.

Ancap designated Argentina’s YPF SA as operator of Block 3 and Brazil’s Petroleo Brasileiro SA as operator of Block 4. YPF and Petrobras have 40% interests in each block, and Portugal’s GALP Energia has 20%.

Area 3 covers 5,500 sq km in 100-2,000 m of water 150-300 miles off Montevideo, and Area 4 covers 3,000 sq km in 50-200 m of water 125-150 miles off Montevideo. Area 3 borders Argentina waters, and Area 4 is north of Area 3 (see map, OGJ, July 20, 2009, p. 40).

Two wells are required to extend each license past the initial 4-year exploration period into two 2-year phases.

More in Home