CGGVeritas Contributes to Success of 1st Uruguay Offshore Licensing Round

Uruguay Offshore Blocks
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CGGVeritas announced that the response to Uruguay's first Offshore Licensing Round, supported by the company in co-operation with ANCAP, the national oil company of Uruguay, was a success.

Since the announcement of the first Offshore Licensing Round on December 1, 2008, six major oil companies have applied and qualified for the 2009 contract bidding process due to run from June 14 to July 1, 2009.

The blocks on offer in this first round lie in the Punta del Este and Pelotas basins, in water depths ranging from 50 to 1500 m, as well as in the Oriental del Plata basin, located further offshore.

CGGVeritas, in co-operation with ANCAP, supported this Licensing Round by making available a multi-client data package comprising 7,000 km of regional and 2,800 km of semi-detailed long-offset 2D data, acquired respectively in 2007 and 2008. While the 2007 survey provides regional coverage of the entire Uruguayan offshore sector, the 2008 infill survey provides more detailed coverage over the Punta del Este basin, complementing a previous 1,830 km regional survey of the basin acquired by the company in 2002. Pre-stack and post-stack data, angle stacks as well as gravity and magnetic data were part of the package made available for licensing.

Luc Schlumberger, Executive Vice President, Latin America region, CGGVeritas, said, "CGGVeritas has worked closely with ANCAP to launch this first Licensing Round in Uruguay and we are pleased to see such a strong level of interest in this high-potential arena. Our new deep 2D seismic surveys, together with other integrated studies, have already given ANCAP the insight to establish a number of leads and plays in water depths ranging from less than 200 meters to over 1500 meters, confirming our confidence in this very promising offshore geologic setting. We believe the offshore Uruguay sector provides exciting opportunities for the hydrocarbon industry."


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