Uruguay to promote Round 3 offshore tender abroad

By
Monday, January 8, 2018

Uruguay's state oil company Ancap has announced several promotional events ahead of the submission of offers for its Round 3 of offshore oil and gas licenses, with 17 areas open to bids.

On February 1 a presentation at the IAPG in Houston will take place, followed by promotion at the Winter NAPE expo from February 5-9. In London, events are planned at the APPEX show from February 27 to March 1. Meetings are available at request during each event.

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Details of the third round were announced in September 2017. Oil companies have until April 6 to present documents to qualify for the submission of offers from April 24-26. Offers will be opened on April 26.

Bidding terms and the contract model can be found here.

Blocks will carry exploration terms of 8-10 years and overall contract periods of 30 years, with the option of a 10-year extension. Timeframes will depend on water depths, which range from 50m to 4000m.