Uruguay to Tender 17 Offshore Blocks for Exploration
; the company's General Manager Ignacio Horvath said during an oil industry conference in Uruguayan resort town Punta del Este on the Atlantic coast. Uruguay is a net oil importer. In 2009 and 2012 it held Rounds I and II respectively, signing exploration contracts with companies including BP and YPF. The blocks to be tendered include areas in the Eastern del Plata and Punta del Este maritime basins, which reach up to 3,000 meters deep. (Reporting by Malena Castaldi
Uruguay Eyes Extending Oil Exploration Contracts
Uruguay is considering extending the length of its oil exploration contracts with foreign companies drilling in its waters in order to shore up investment at a time of plunging crude prices, it said on Wednesday. BP, BG Group, Total, a joint venture of Tullow Oil and Inpex, and a consortium of YPF, Royal Dutch Shell and Galp all have exploration agreements with the South American country and have invested around $2 billion to date. But the recent fall in oil prices has made exploration in Uruguay unattractive, Hector de Santa Ana, exploration manager at state oil and gas company Ancap
Malaysia's Petronas Looking to Sell Vietnam Offshore Fields
reports fourth quarter earnings next week, could not be immediately reached, for comment while a Bank of America Merrill Lynch spokesman declined to comment. Earlier this month, Petronas picked up a half share of an offshore oilfield in Suriname for an undisclosed sum and signed a deal with Argentina's YPF to jointly develop the Vaca Muerta shale formation - one of the world's biggest known reserves of unconventional energy. Source: Reuters
February 2024
