PARIS – Total has been awarded an exploration license for block 14 offshore Uruguay, following a second bid round staged by state-owned company ANCAP.
Confirmation of the award is subject to further approval by Uruguayan authorities.
Block 14 covers 6,690 sq km (2,583 sq mi) in the Pelotas basin, 250 km (155 mi) offshore. Water depths range from 2,000-3,500 m (6,561-11,483 ft).
The bidding process for this particular block was very competitive in terms of the proposed work program and financial commitment, said Marc Blaizot, Total’s senior VP, Exploration.