Challenger's operations in Trinidad
Challenger banks on Uruguayan frontier
The independent is poised to benefit from the new wave of interest in Uruguayan acreage
Uruguay has “all of the technical merits but none of the issues”, says Eytan Uliel, CEO of AIM-listed independent Challenger Energy. The frontier country “has, in a short space of time, become a focal point of the whole business”, Uliel says, adding there is significant potential for “value uplift” there. Challenger was the only applicant when it opted to bid for a Uruguayan licence in May 2020, but the block “was very big, offshore and in shallow water”, with historic, 2D seismic data available. “No one had really paid much attention to it” he adds. It was two years before Uruguay’s president formally approved the licence—which therefore started in August this year—but during that time the
Also in this section
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
