Uruguay to Offer Offshore Exploration Licenses in Upcoming Round

The Administracion Nacional de Combustibles, Alcohol y Portland, or ANCAP, is issuing a call for bids for its Uruguay Licensing Round 2009, which will offer Exploration and Exploitation of Hydrocarbons Contracts in offshore Uruguayan areas.

Offshore Uruguayan basins present an interesting geology. In the last years, geologic and geophysical studies and two multi-client 2D seismic surveys carried out by Wavefield Inseis are allowing ANCAP's technicians to identify many leads and plays located in bathymetrics from shallow to ultra depth, analogous to some productive systems of Atlantic margin.

Taking all these elements into account, ANCAP has extended an invitation for interested companies to participate in the preliminary launching of this licensing round, including registration, on November 30, at the Radisson Victoria Plaza Hotel. Additional information on this issue can be found at www.rondauruguay.gub.uy and www.ancap.com.uy.