On October 19th, 2011 at 8.30AM, at the Petroleum Club of Houston, ANCAP presented the Uruguay Round II of its offshore oil exploration and production bidding process for an audience of more than 90 executives from the oil industry and related service companies. In addition, the Uruguayan national oil company ANCAP offered Data Rooms to 11 interested companies from October 18 to 21, 2011, at the Hilton Americas in downtown Houston. The Uruguayan delegation was integrated by the member of the ANCAP Directors Board Juan Amaro, the ANCAP E&P administration and contracts manager Santiago Ferro, and the members of the E&P technical staff Geosciences manager Ethel Morales and geologist Bruno Conti. The ANCAP team presented the exploratory potential offshore Uruguay and general bidding terms of the Uruguay Round II, with the aim to continue offering to the upstream industry exploration opportunities in Uruguay.

The Road Show and Data Rooms were very promising in the view of the ANCAP team, as a lot of companies covered not only the Road Show but also asked for individual Data Rooms. As a result of some of these data rooms some of the companies bought the whole package of 2D seismic information of Uruguayan basins for around 15 million dollars (obtained through ANCAP multi-client contract with CGGVeritas), with some others companies interested in following the same way. For ANCAP managers these indicators are reflecting the interest that the oil sector shows on the Uruguay Round II. They were congratulated by the participants because the clear, concise and professional presentation made.

Several of the main world companies participated at the Road Show in Houston, as Anadarko, Apache, Exxon Mobil, Shell, BHP Billiton, Conoco Phillips, Chevron, Noble Energy, Tullow Oil, Marathon Oil, Murphy Oil, Repsol, Cove Energy, Kosmos Energy, Schuepbach Energy and Source Energy.

The meeting was also of the interest for specialized press and services companies, as Platts, IHS, Spectrum, PGS, Weatherford, ABS, FIT, FUGRO, Geokinetics, and Landocean, to take a few of them.

The oil companies to participate in the bidding process must qualify no later than half February for presentation of offers. The opening of bids will be at the end of March 2012.

Tags: ANCAP