Challenger started farm-out process for its OFF-1 licence in June
Uruguay-focused independent upbeat on farm-in deal
AIM-listed Challenger is seeking partners to help develop its licences off the coast of Uruguay
Challenger began the formal farm-out process for its OFF-1 licence in June, CEO Eytan Uliel told Petroleum Economist. The process is “going well” and has attracted a large number of interested parties, he continued, noting that the independent is keen to reach a farm-in deal by year-end and is “reasonably optimistic” of achieving that goal. Challenger is seeking to become minority partner, with the larger, farm-in partner acting as operator. There is “lots of enthusiasm... the momentum is feeding itself”, Uliel said. Challenger CEO Eytan Uliel Uliel attributed much of the interest in the licence to ongoing exploration success offshore N
Also in this section
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
24 April 2026
Countries in the region are turning to the cleaner-burning fuel for power generation, driving demand for imports
