Uruguay signs offshore contracts with oil companies: BP, BG, Total and Tullow
The Uruguayan government has signed offshore exploration and production deals with British oil firms BG Group, BP plc, Ireland’s Tullow Oil and France's Total. The companies awarded 30-year concession contracts in April for the eight oil blocks - three each for BG and BP and one each for Tullow and Total - have committed to investing a total of roughly 1.56 billion dollars.
The contracts, the terms of which are extendable for an additional 10 years, are part of the Uruguayan government's plan to diversify the national energy matrix and reduce its dependence on fuel imports. Uruguay imports all of the oil it consumes, mainly from Venezuela, which supplies 40%, Angola and Russia.
Britain’s BP confirmed the production sharing contracts for three deepwater exploration blocks. The signing of the contracts completes the award of the blocks, for which BP was the successful bidder in Uruguay’s second offshore licensing round in March 2012.
The contracts cover blocks 11 and 12 in the Pelotas basin and block 6 in the Punta del Este basin. The blocks, which together cover an area of almost 26,000 square kilometres, are located approximately 50-100 kilometres off the Uruguayan coast, southeast of Montevideo, in water depths ranging from 500 to 2000 metres.
BP will hold a 100% interest in the blocks and the Uruguayan state oil company, ANCAP, will have a right to participate of up to 30% in any discoveries. BP will carry out 2D and 3D seismic acquisition on the blocks during the initial three-year exploration phase of the contracts. This work is expected to begin next year.
The Uruguay Round II was launched in September 2011 after exploration carried out by Ancap revealed traces of hydrocarbons in the marine subsoil. A total of 15 blocks were on offer in the auction covering a 101,000-sq-km area.
In an earlier bidding process, the Uruguayan government awarded two offshore exploration and production blocks to an international consortium made up of Argentina's YPF, Brazil's Petrobras and Portugal's Galp Energia.
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If (when) we get the deep sea port things will really begin to pick up.
That is how you get USD in to the country. Easy.
South American solidarity? Pffffft!
Maybe it was because they grabbed someone else's computers and Tonka toys?
“In an earlier bidding process, the Uruguayan government awarded two offshore exploration and production blocks to an international consortium made up of Argentina's YPF, Brazil's Petrobras and Portugal's Galp Energia.”
As you can see from the fabled Netherlander, now ensconced in America, FIDO DILDO, who behaves like a Neanderthal for most of his posts; YPF were in bed with Petrobras before TMBOA gutted the company by robbing REPSOL of the contract.
If things are left to these two nothing much will happen because:
1) Petrobras has its hands full with the deep sea oil fields Brasil already has, to the point where it has to sub-contract operations to Chevron;
2) YPF couldn't drive a rig through a deep puddle left to itself, never mind a seriously deep operation like these;
3) Galp Energia, the other original ‘winner’ has approximately 20 sites in the Brasil complex but so far has not gone beyond exploration and seems stymied at present. It is hardly in the same street as BP, BG or Total.
But now we have these later companies signed up something positive may happen.
That is of course as long as TMBOA does not try to muscle in as the parcels are just over the Plate from AG.
TMBOA won't make a move until (hopefully) the oil flows, then there will be problems.
By then she may be gone (dead would be my choice) and someone new as President. But who knows how bad they will be?
Pepe will be gone before that and I do hope the new regime will get closr to the UK for defence purposes. There is never going to be an attack on Uruguay if UK forces could be called upon.
13 Emerald
May I suggest you look on Google Earth and see for yourself the coastline of Uruguay and how close we are to AG (and therefore TMBOA).
:o)
Well, even if I did, it's still better than NO research and posting bitter, twisted and lying posts such as you do.
Unlike you, not everybody is prepared to sell out their flag and country for oil and patacones.
That's a very interesting propersition, if only for the politic quandary Brasil would face.
Presently however, Petrobras, although run by a very experienced and respected woman must be stretched to the limit and could not handle any more exploration licences in a meaningful manner.
This would affect the FI development plans which is a pity because the potential knock-on effect in the region could be extreme.
They could always offer a trench, not a tranch, to AG. Very useful for burying TMBOA in. LOL
Well, that is something your friends in AG will no doubt consider when the time comes for you to give it to them.
Meanwhile, in the real world, thinks have moved on considerably in oil recovery technology and field mapping prior to exploratory drilling.
Let us all in Uruguay hope and trust that it works for us.
There were technical issues with the choice and suitability of the blow-out preventers for one thing.
They also had someone like you in charge. You know, couldn't give a stuff, just wanted to take the money.
You are not unusual in business that is why I said someone LIKE you.
I did not say it was YOUR fault.
So far, you have not made any operational decisions in the maritime world as you are still training. This is normal.
I don't think you will ever be making decisions in the petro-chemicals world under any circumstances. You have no training so far (unless you have secrets).
BTW calling me an old man makes me smile. Although I am 66 I most certainly do not feel old and live life to the full. You should try it sometime.
I am pleased to see that you are taking an outside interest but renewable energy is a lost cause if you are talking about wind and solar electricity.
Using microbes to clean up oil has of course been used for ages, never heard of algae doing the job. Medical algae, yes: chemical catalysts, yes: I think there is an application in plastics but I have forgotten what it involved.
If you think you can synthesize hydrocarbons using algae good luck to you. If I was not retired you could offer me a job!
en.wikipedia.org/wiki/Algae_fuel
Thanks for that. As usual the real problems for an embryonic concept is hitting the best compromise and of course the cost.
Eventually the costs will reduce to that of conventional fuel as the cost of winning those rises due to the complexity of the systems required, especially in the deep water wells.
Neutral CO2 balance as well, even when force fed, can't be bad.
But if you have some ideas about this subject I respectfully suggest you get on with them sooner rather than later. It seems that at present there is no decisive direction to all of this activity: perhaps your ideas might point out the direction.
During the long weekend that ended today, there have been more Argentine tourists in Punta del Este than expected. Furthermore, foreign deposits in Uruguayan banks increased slightly.
It seems that luxury blocks of flats already started in Punta del Este will be completed, but plans for new ones have been put on hold.
Of course, there are growing numbers of Brazilian tourists arriving every weekend. The less Uruguay relies on Argentine trade or tourists, the better.
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