Montevideo, Uruguay
Uruguay aims to benefit from frontier fever
South American nation emerges as potentially promising new upstream province
Uruguay has awarded licenses for three more offshore blocks. And the country is hoping to benefit from comparisons of its offshore geology to rocks that have yielded recent finds in Namibia. Uruguayan state-owned oil company Ancap awarded two offshore blocks to Shell. The major's awards comprise the shallow-water OFF-2 and the deepwater OFF-7 blocks. Shell has an initial four-year exploration period and has committed to securing fresh 3D seismic surveys and resource evaluations. Ancap also awarded the deep-water block OFF-6 to US independent Apache. The award is also for an initial four-year period, but Apache has committed to more work than Shell, including the drilling of an exploratory w
Also in this section
8 October 2024
History shows us that there is a long way to go from candidate proposals to policy implementation
7 October 2024
Geopolitical developments and market shifts mean US LNG will be a vital component in Europe's energy strategy and decarbonisation efforts
7 October 2024
Hopes for a recovery by the North African oil producer remain in tatters
4 October 2024
Economic ill-health may be a wake-up call to the world about the Asian nation’s shifting oil buying status
