ANCAP received 19 offers for offshore oil exploration and production in 8 of the 15 offered blocks, by 9 of the 11 oil companies qualified for the bidding process. There was competition between three or more companies in 5 of the blocks offered. More than 50% of the area from the bidding process will develop exploration works by the four new companies (the British companies BP and BG, the French company Total and the Irish company Tullow Oil) that adds to the work already being done by Petrobras, YPF, and GALP in the Uruguayan offshore.

Blocks from the three Uruguayan offshore basins were awarded: the basins named Oriental del Plata, Punta del Este and Pelotas, this last who received particular interest from the oil companies.

In the offshore basins will be a relevant increasing in quantity and quality of the geological knowledge, as the work plans means as a whole one exploratory well in ultra-deep waters, 33.240 km2 of 3D seismic data, 13.080 km2 de 3D electromagnetic data, 130 samples of sea bed and 3.000 km of 2D seismic data for the first three years of exploration work.

Tags: ANCAP, BG Group, BP PLC, Total, Tullow Oil plc