Uruguay round: Petrobras eyes offshore riches
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- Uruguay launches licensing rounds
- Uruguay draws interest
- Uruguay's first licensing round draws interest
- Uruguay finds offshore gas deposit
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- Uruguay on scent of offshore riches
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Petrobras eyes Uruguay riches
Petrobras became the first foreign company to buy bid documents for the exploration of hydrocarbons in the Uruguayan Continental Shelf.
“The news is very auspicious,” said Raul Sendic, chief executive of Uruguayan state oil company Ancap.
At least three other international oil companies have shown an interest including PDVSA, for the exploration of hydrocarbons in Uruguay, said an Associated Press report.
According to Ancap’s offer, 11 blocks will be offered where indications of oil, gas or both were found.
More than a dozen companies sent representatives to Montevideo this past December when the Uruguay Round was launched.
During this time, the companies were given all the information gathered on the blocks by the Norwegian-British company Wavefield.
The round gave the companies the opportunities to buy a tender package.
The blocks are in an 11,000 square kilometer area called the Punta del Este basin in the Atlantic Ocean.
Uruguay does not produce oil and imports up to one million barrels of crude per month for refining.
According to Ancap’s timetable, companies will be rated in May and the presentation of bids will take place between June and July.