Uruguay aims to benefit from frontier fever
South American nation emerges as potentially promising new upstream province
Uruguay has awarded licenses for three more offshore blocks. And the country is hoping to benefit from comparisons of its offshore geology to rocks that have yielded recent finds in Namibia. Uruguayan state-owned oil company Ancap awarded two offshore blocks to Shell. The major's awards comprise the shallow-water OFF-2 and the deepwater OFF-7 blocks. Shell has an initial four-year exploration period and has committed to securing fresh 3D seismic surveys and resource evaluations. Ancap also awarded the deep-water block OFF-6 to US independent Apache. The award is also for an initial four-year period, but Apache has committed to more work than Shell, including the drilling of an exploratory w
Also in this section
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy
15 April 2024
Though hampered by methane concerns, US LNG has a crucial role to play for European and Asian energy security, US economic needs and the energy transition drive