Thursday 27 April 2017

After the signature of eight offshore hydrocarbon exploration and exploitation’s contracts between ANCAP and four distinguished International Oil Companies (BP -areas 6, 11 and 12-, BG -areas 8, 9 and 13-, TOTAL -area 14- and Tullow Oil -area 15-), as a result of the “Uruguay Round II” bidding process, historic hydrocarbon exploration’s investment were achieved.

This process has positioned Uruguay in a prominent place in the world oil map and allowed the country to increase the geological and geophysical knowledge of its offshore’s basins.

Moreover, the “Uruguay Round II” was valued by industry, operators, consultants and international experts as a transparent and clear process, aligned with the global situation, resulting in a relevant experience to other countries.

In order to continue increasing the knowledge of our offshore resources, ANCAP and the Ministry of Industry, Energy and Mining of Uruguay have decided to carry out the “Uruguay Round 3”.

This process will have similar characteristics to the previous one. Consequently, ANCAP has been promoting the “Uruguay Round 3” at various well known international events, such as NAPE, APPEX, annual AAPG, and it will attend the annual EAGE, to be held in Amsterdam, the 21th WPC in Moscow, the International AAPG in Estambul, amongst others to continue promoting to the upstream industry the main features of Uruguay Round 3”.