Uruguay will move towards a permanent offer process for offshore oil blocks as other Latin American countries have done, after an April auction failed to attract bids, Industry, Energy and Mining Minister Carolina Cosse said in an interview.
The Uruguayan government announced on Friday the presence of hydrocarbons in the north west of the country, in the framework of exploratory drilling by US based Schuepbach Energy. The discovery took place in the county of Paysandu, some 400kms north of the capital Montevideo.
A consortium led by France's Total and U.S.-based super major ExxonMobil Corp started this week drilling for oil off Uruguay, Industry, Energy and Mining Minister Carolina Cosse announced. Uruguay is totally reliant on imports for its oil and has for decades tried to discover possible hydrocarbons resources both in the continent and offshore.
The first satellite of the Uruguayan AntelSat project will be launched at the beginning of 2014, according to the country's telecom authority Antel.