ANCAP awarded two bids for exploration and production in two offshore areas of Uruguay in the 2022 Open Uruguay Round process (OFF-4 and OFF-5).
A consortium of APA Exploration LDC, a unit of APA Corp., and BG International Ltd., a unit of Shell PLC, was awarded OFF-4 block and YPF SA was awarded OFF-5 block. The workscope for OFF-4 includes acquisition of new 3D seismic data. The rest of the activities proposed by the companies involve using the database of existing seismic data, generated in the framework of previous round processes, to define prospects of exploratory interest. Any exploration and production would be subject to national environmental regulations. The nominal investment associated with the work presented amounts to $31 million for both areas.
After the offers are formally approved, ANCAP will request government authorization for contract signature and award.
