Exxon, Total Join Forces To Drill Uruguay's First Offshore Well
MONTEVIDEO, Nov 9 (Reuters) - U.S. oil company Exxon Mobil has acquired a 35 percent stake in an oil block off Uruguay's coast, teaming up with France's Total to spud the country's first offshore exploratory well, state oil firm ANCAP said on Monday.
The well will be drilled about 400 km (249 miles) from the seaside capital Montevideo at a depth of 3,400 meters (11,155 feet), ANCAP said.
Total has been operating in Block 14 since 2012 and carried out seismic surveys covering 7,188 square kilometers. The two firms will invest $200 million and begin drilling the well in the first half of 2016, ANCAP said.
ANCAP said the well represented a "milestone in oil exploring in Uruguay."
(Reporting by Malena Castaldi; Writing by Richard Lough; Editing by Chris Reese)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Ex-Schlumberger Chief to Acquire Biggest Shale Pipe Servicer (Oct 19)
- Exxon Exploration Chief Eyes Africa for Next Elephant Oil Find (Oct 18)
- Tight Oil, Shale to Drive Majors' Output to New Highs (Oct 16)
Company: Total S.A. more info
- Oil CEOs Jostle for Global Natgas Crown Under Putin's Gaze (Oct 04)
- Uganda Expects to Miss Target for First Oil (Sep 24)
- Total Joins Tullow-operated Block Offshore Guyana (Sep 13)