Ancap awards more blocks
International firms compete for Uruguayan blocks
The country’s frontier upstream continues to attract interest
Uruguayan regulator Ancap awarded two more offshore blocks at the end of 2022. A consortium comprising Shell and US independent APA (formerly Apache) secured the OFF-4 block, ahead of a bid from YPF—although the Argentine NOC did secure OFF-5. The Shell-APA joint venture has committed to carrying out extensive work on OFF-4, including 3D seismic acquisition, within its initial four-year exploration licence period. Similarly, YPF has four years to carry out a technical work programme on OFF-5. 6 – Blocks awarded in 2022 Earlier in 2022, AIM-listed independent Challenger was awarded OFF-1—which is adjacent to the OFF-4 block—while Shell took blocks OFF-2 and OFF-7, and APA secured OFF-
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
