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.
Norway's Statoil giant announced on Tuesday an agreement with French Total to acquire a 15% working interest in an offshore exploration block in Uruguay's continental shelf. The announcement comes only weeks before Total is preparing to drill its first exploratory well in Uruguayan waters.