Uruguay states Gazprom, BP, Overall among firms fascinated in bidding round

Posted by Mills Hoffmann on January 20th, 2021

Uruguay's Ancap has gotten expressions of rate of interest from at least 10 foreign firms for 15 overseas oil and gas expedition obstructs it is providing in its second licensing round, a company official stated Wednesday. Ancap geologist Bruno Conti Paciello, speaking on the sidelines of a power seminar in Geneva, claimed firms that have actually expressed interest in the blocks consist of Gazprom, BP, Overall, BG, Tullow and also US independent Noble. Ancap additionally had call with Shell relating to the auction, he claimed, without giving details. The blocks were offered on September 8 as well as Ancap will announce the qualified business on March 15 of following year. Submission of proposals will happen from March 22-29, after which the propositions will certainly be opened up, he said. The permit areas cover offshore blocks in water midsts of in between 2,000 and 12,000 km, he said. Uruguay, which produces no oil of its own as well as counts on imports of both petroleum and natural gas, awarded 2 offshore oil as well as gas expedition obstructs in a 2009 bidding round, when rate of interest in the country's very first auction was dull as a result of the worldwide financial recession. In the first round, kept in 2009, a consortium of YPF, Petrobras and also GALP won licenses for blocks 3 and 4 located 60 km (37.3 miles) off the southeastern coastline in the so-called Punta del Este Basin. The firms have actually stated they intend to invest a preliminary million in exploration. atmp chemical claimed that piercing the initial wells was likely to begin in 2014 if the firms determine to wage an expedition program. Uruguay is seeking to create its very own oil and also gas for the first time to enhance energy protection and also lower a hefty reliance on imported energy as well as residential hydropower. The nation eats around 250,000 cubic meters/day of gas, which it obtains by pipeline from Argentina, Paciello claimed. It likewise imports 50,000 b/d of crude oil, which is refined at Ancap's sole refinery. This is the initial offshore expedition in Uruguay considering that Chevron pierced two wells in 1976 that were never ever taken into manufacturing because of reduced crude rates at the time. The second round will certainly include access to 6,300 straight kilometres of 2-D seismic research studies secured this year. ANCAP funded the researches to offer richer data for the round.

Mills Hoffmann

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Mills Hoffmann
Joined: January 20th, 2021
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