The Uruguayan government announced on Friday the presence of hydrocarbons in the north west of the country, in the framework of exploratory drilling by US based Schuepbach Energy. The discovery took place in the county of Paysandu, some 400kms north of the capital Montevideo.
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.