Uruguay’s hydrocarbons refining company Ancap signed on Tuesday an agreement with US company Schuepbach Energy to begin exploration for oil and gas in the north and centre of the country.
Uruguay’s oil and gas refining corporation, Ancap, reported it has sold seismic data on the country’s continental shelf hydrocarbons potential for the value of 20 million dollars which more than covers the costs involved in the several surveying operations.
At least ten first line oil and gas corporations expressed interest in the road show set up by Uruguay in Houston to promote hydrocarbons exploration on its continental shelf, according to one of the Directors of the country’s fuels company Ancap.
The chances for Uruguay of having significant commercial reserves of natural gas and oil are on the increase according to recent reports from US Energy and Geology agencies and published in the Montevideo press.
Uruguay's government oil corporation Ancap has received expressions of interest from at least 10 foreign companies for 15 offshore oil and gas exploration blocks it is offering in its second licensing round, a company official said in Geneva.
Uruguay detailed plans to auction 15 offshore exploration blocks on Thursday, part of the energy-short country's efforts to reduce its dependence on imports of oil and natural gas.
Uruguay’ government owned oil corporation ANCAP said on Friday it had begun exploratory drilling inland with its own resources. The announcement was done during the presentation of the II Uruguay Round to tender offshore exploratory blocks which has attracted interest from several regional and international corporations.
Uruguay confirmed a second round of offshore lease bidding for hydrocarbons exploration next September. The country’s state run oil refining company ANCAP plans to offer 15 areas with sizes ranging from 2,300 sq km to 12,000 sq km, said sources from the Ministry of Industry, Energy and Mining.
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.
Uruguay state-run oil and gas company ANCAP announced the discovery of source rock which might contain underground shale oil or natural gas deposits.