Challenger started farm-out process for its OFF-1 licence in June
Uruguay-focused independent upbeat on farm-in deal
AIM-listed Challenger is seeking partners to help develop its licences off the coast of Uruguay
Challenger began the formal farm-out process for its OFF-1 licence in June, CEO Eytan Uliel told Petroleum Economist. The process is “going well” and has attracted a large number of interested parties, he continued, noting that the independent is keen to reach a farm-in deal by year-end and is “reasonably optimistic” of achieving that goal. Challenger is seeking to become minority partner, with the larger, farm-in partner acting as operator. There is “lots of enthusiasm... the momentum is feeding itself”, Uliel said. Challenger CEO Eytan Uliel Uliel attributed much of the interest in the licence to ongoing exploration success offshore N
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
