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Uruguay signs offshore contracts with oil companies: BP, BG, Total and Tullow

Friday, October 12th 2012 - 06:23 UTC
Full article 37 comments

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. Read full article

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  • damian

    Three European oil companies. I think we're seeing a realignment of Uruguay's trading partners.

    Oct 12th, 2012 - 07:32 am - Link - Report abuse 0
  • Teaboy2

    I can see red ensigned flagged vessel in Urugauys ports already. So much for a united South America lol

    Oct 12th, 2012 - 08:28 am - Link - Report abuse 0
  • ChrisR

    Let's hope they find oil sooner rather than later.

    If (when) we get the deep sea port things will really begin to pick up.

    Oct 12th, 2012 - 10:49 am - Link - Report abuse 0
  • Condorito

    Note to CFK:
    That is how you get USD in to the country. Easy.

    Oct 12th, 2012 - 01:01 pm - Link - Report abuse 0
  • Pete Bog

    Why aren't YPF involved?
    South American solidarity? Pffffft!

    Oct 12th, 2012 - 02:30 pm - Link - Report abuse 0
  • Condorito

    @5 there is solidarity and then there is stupidity.

    Oct 12th, 2012 - 04:19 pm - Link - Report abuse 0
  • Ayayay

    What? Arg talked to 70 companies, going on TOUR.
    Maybe it was because they grabbed someone else's computers and Tonka toys?

    Oct 12th, 2012 - 04:52 pm - Link - Report abuse 0
  • KretinaKK

    Comment removed by the editor.

    Oct 12th, 2012 - 04:54 pm - Link - Report abuse 0
  • Fido Dido

    Some people here JUST CANNOT read at all.

    “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.”

    Oct 12th, 2012 - 05:39 pm - Link - Report abuse 0
  • THEMan

    @8 That's it, I've had it with your crappy spamming.

    Oct 12th, 2012 - 06:33 pm - Link - Report abuse 0
  • ChrisR

    5 Pete Bog

    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.

    Oct 12th, 2012 - 07:22 pm - Link - Report abuse 0
  • Britworker

    Oh dear, it sounds like poor old Uruguay are going to be invited to the Casa Rosada for a meeting without biscuits 'again'. Independent thought and actions from minor members are not allowed in the new bolivarian reich, just ask Paraguay!

    Oct 12th, 2012 - 08:04 pm - Link - Report abuse 0
  • emerald

    Does Uruguay has a similar wide bay like Mexico bay (beceriksiz herifler)to tolerate next coming natural disaster ?..

    Oct 12th, 2012 - 08:57 pm - Link - Report abuse 0
  • ChrisR

    @13 Britworker

    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)

    Oct 12th, 2012 - 09:17 pm - Link - Report abuse 0
  • Fido Dido

    Chrisretard again with his web based research.

    Oct 12th, 2012 - 11:12 pm - Link - Report abuse 0
  • ChrisR

    15 Fido Dildo

    Well, even if I did, it's still better than NO research and posting bitter, twisted and lying posts such as you do.

    Oct 13th, 2012 - 12:18 am - Link - Report abuse 0
  • redpoll

    Perhaps FIG should offer a few exploration blocks to Petrobras. I f they find oil lets see how long the Brazileans pay lip sevice to the Argentine claims to the Falklands. Five minutes perhaps?

    Oct 13th, 2012 - 01:36 am - Link - Report abuse 0
  • Guzz

    redpoll
    Unlike you, not everybody is prepared to sell out their flag and country for oil and patacones.

    Oct 13th, 2012 - 05:46 am - Link - Report abuse 0
  • ChrisR

    17 redpoll

    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

    Oct 13th, 2012 - 10:32 am - Link - Report abuse 0
  • Leifur_Heppni

    the South-American solidarity, there you see it, they just talk crap to CFK and do the opposite.

    Oct 13th, 2012 - 11:48 am - Link - Report abuse 0
  • ynsere

    Uruguayans are not overly optimistic about positive results. The country has a long history of disappointment in earlier prospection for fossil fuel.

    Oct 13th, 2012 - 10:41 pm - Link - Report abuse 0
  • Guzz

    I think BP is an excellent choice. Should they find something, we can always give the contract to someone else, referring to environmental issues :))

    Oct 13th, 2012 - 10:51 pm - Link - Report abuse 0
  • ChrisR

    22 Guzz

    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.

    Oct 14th, 2012 - 12:20 am - Link - Report abuse 0
  • Guzz

    You mean things have moved on significantly since the minor issue in the Mexican Gulf? :)))

    Oct 14th, 2012 - 08:06 am - Link - Report abuse 0
  • ChrisR

    24 Guzz

    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.

    Oct 14th, 2012 - 10:38 am - Link - Report abuse 0
  • Guzz

    So it's my fault basically? Is that your excuse of the day Chris? What flavour is it tomorrow, old man? :)))

    Oct 14th, 2012 - 10:51 am - Link - Report abuse 0
  • ChrisR

    26 Guzz

    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.

    Oct 14th, 2012 - 01:49 pm - Link - Report abuse 0
  • Guzz

    Chris, old is relative, don't take it offensively, was never meant to be so. My speciality is renewable energy, not so much oil. Much more so biodiesel, the problems being edible crops being used to produce fuel versus using fields to produce fuel and not food. Two sides of the same coin... Algaes are my devotion at the time being, and in that area, I most certainly have a secret or two...

    Oct 14th, 2012 - 04:54 pm - Link - Report abuse 0
  • ChrisR

    28 Guzz

    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!

    Oct 14th, 2012 - 09:17 pm - Link - Report abuse 0
  • Guzz

    I know it's wiki and not much of a source, but it's an introduction

    http://en.wikipedia.org/wiki/Algae_fuel

    Oct 14th, 2012 - 09:31 pm - Link - Report abuse 0
  • redpoll

    As a matter of curiosity does Argentina /YPF have thier own tanker fleet or do they charter from others?

    Oct 14th, 2012 - 09:41 pm - Link - Report abuse 0
  • Frank

    They use BP ships for gas imports....... chuckle....

    Oct 15th, 2012 - 07:07 am - Link - Report abuse 0
  • ChrisR

    30 Guzz

    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.

    Oct 15th, 2012 - 10:46 am - Link - Report abuse 0
  • Burn1938

    The Uruguayan deal with BG Group and BP does seem odd . Where is Latín American solidarity ?

    Oct 15th, 2012 - 02:39 pm - Link - Report abuse 0
  • redpoll

    Thank the lord, we are still a proud independent country and NOT a province of the corrupt government in Buenos Aires who try to bully us into submission

    Oct 15th, 2012 - 06:46 pm - Link - Report abuse 0
  • Burn1938

    They are doing quite well so far ! Argentines can not invest in Uruguay due to exchange controls . And now , for the same reason , they will find it hard to spend their summer in Punta del Este . And to think that Mujica is proud of his relations with Mrs . Kirchner !

    Oct 15th, 2012 - 10:08 pm - Link - Report abuse 0
  • ynsere

    Even Mujica has begun to complain about CFK. His policy of appeasement has not been successful. It seems that every week there is a new Argentine move against Uruguay.
    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.

    Oct 16th, 2012 - 12:52 am - Link - Report abuse 0

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