Uruguay’s state-owned energy company ANCAP has awarded three of six available offshore blocks on its continental shelf through an open bidding round.
Shell (through subsidiary BG International Ltd.) won the rights to two blocks: shallow-water block OFF-2 and deepwater block OFF-7. Apache Corporation, now a subsidiary of APA Corporation, was awarded block OFF-6. Block OFF-1 was previously awarded to Challenger Energy.
In blocks OFF-2 and OFF-7, Shell committed to an exploration program comprising the evaluation of the oil geology and prospective resources, investment in 3D, gravimetric and magnetometric modeling and information licensing.
In OFF-6, APA will undertake the drilling of an exploratory well within four years, the evaluation of oil geology and prospective resources, and the licensing of information.
The bids are subject to approval before ANCAP can issue contracts.
