ANCAP awards two further blocks offshore Uruguay

Jan. 4, 2023

Uruguay’s national energy company ANCAP has awarded two more offshore blocks following the country’s second Open Bidding round.

Offshore staff

The schedule is an initial four-year exploration term. Challenger Energy's estimated resource is more than 1 Bbbl. ANCAP independently identified Lenteja Prospect with 1.4 Bbbl recoverable. Commitments include the purchase, reprocessing and reinterpretation of existing 2D seismic data, with no drilling required in the initial exploration term.

DOUGLAS, UK— Uruguay’s national energy company ANCAP has awarded two more offshore blocks following the country’s second Open Bidding round.

Shell and APA Corp. bid successfully for the AREA OFF-4 deepwater offshore block, adjacent to the AREA OFF-1 shallow water exploration block operated by Challenger Energy Group.

The two companies have committed to an extensive work program during the initial four-year exploration period, including 3D seismic acquisition.

YPF secured the AREA OFF-5 deepwater block.

In May last year, ANCAP awarded the AREA OFF-2 and AREA OFF-7 blocks to Shell, and the AREA OFF-6 block to APA.

All but one of Uruguay’s available offshore exploration blocks in Uruguay have now been licensed, with estimated exploration-related commitments of more than $230 million.

YPF reportedly also has environmental approval to acquire 3D seismic this year on its CAN 102 block off northern Argentina, close to Challenger’s Uruguay block.

The initial four-year exploration period for AREA OFF-1 started last August. Chariot has committed to G&G studies, 2D seismic data licensing, 2D reprocessing and interpretation, and expects to substantially complete all required work by mid-year.

01.04.2023