MercoPress. South Atlantic News Agency

Uruguay completes 2D offshore geophysical surveying for September’s oil round

R/V Reflect Aries surveyed almost the whole of Punta del Este, Pelotas and Oriental del Plata basins

In anticipation of Uruguay Oil Round II, scheduled for next September, Singapore based Reflect Geophysical Pte Ltd announced the completion of the survey for the acquisition of geophysical data in the Uruguayan offshore, through the seismic vessel R/V Reflect Aries.

The new data is additional information that doesn’t overlap with the existent 2D seismic data and ensures almost total 2D coverage of the Punta del Este, Pelotas and Oriental del Plata basins offshore Uruguay.

Reflect Geophysical works in an exclusive contract with Uruguay’s state owned oil company ANCAP.

ANCAP is scheduled to offer field and pre-processed seismic data, as well as gravity and magnetic data, on a sound and flexible licensing model to oil companies interested in evaluating the hydrocarbon potential and exploration opportunities offshore Uruguay.

This refers to the Uruguay Round II when ANCAP will offer offshore areas for exploration-exploitation of hydrocarbons.

The processing and interpretation of the raw 2D seismic data will be considered by ANCAP as work units of the exploratory work program to be committed by the bidders. All other especial processing activities will also be included as work units of the work program.

The bid round is scheduled for a formal launch on September 7, 2011 in Montevideo. It will include 15 offshore blocks covering most of Uruguay’s continental shelf. Production-sharing agreements will be on offer.

The survey comprise 58 regional and infill lines for a total of approximately 6,300 km, in a wide area of the Uruguayan Exclusive Economic Zone; from shallow waters, 20 meters, 50 km coast away, up to ultra-deep waters, 3,500 meters.

Combined with ANCAP existing 2D data, the new information provide almost full coverage of the Punta del Este, Pelotas and Oriental del Plata basins. This survey adds information to the amount of data already available by ANCAP, such as the commercialized by CGG Veritas for about 12.000 Km of 2D seismic data (acquired during 2002, 2007 and 2008).

Reflect Geophysical works in an exclusive contract with Uruguay’s state owned oil company ANCAP.