MercoPress. South Atlantic News Agency

Oil exploration in Uruguay

A French vessel began this week hydrocarbon exploration operations in Uruguay's continental shelf in the River Plate.

"Thales Venturer" actually was scheduled to begin April 6th, but climatic conditions postponed the first stage which now is expected to last until April 28th.

A year ago Uruguay licensed hydrocarbon exploration in 10,000 offshore square kilometers to a French company.

The exploration data should be available in six months time according to a spokesperson for Ancap, the Uruguayan government oil company.

In the seventies California based Chevron Oil explored for oil and natural gas in the Uruguayan continental shelf and even had a rig operating several months, before the whole operation was cancelled since the deposits located were not considered commercially viable.

However since the boom of offshore oil exploration and exploitation in neighbouring Brazil, Uruguayan authorities are confident that new technology could lead to more encouraging results.

Although Uruguay is virtually self sufficient in hydroelectric energy production, it must import all of its oil and natural gas consumption.