Petrobras, Anap ink agreement for exploration offshore Uruguay

Petrobras, in partnership with YPF and Petrogal (Galp Energia), signed an agreement with Ancap, the Uruguayan national oil company, in Montevideo, today, for oil and natural gas exploration and production on the Uruguayan continental shelf. The agreement is in the production sharing mode, which implies in the participation of the Uruguayan government in the production.

The signature of the document completes the bidding process for the exploration blocks under the Ronda Uruguay 2009 for the Pelotas and Punta del Este Basins, held last July by the Uruguayan government and for which the partnership made the best offer for Blocks 3 and 4, located in the South-Southeastern region of the Punta del Este basin.

Block 3 is located 300 km off the coast, at depths ranging from 200 to 1,500 meters, while Block 4 is 150 km off the coast and at a depth of 100 to 200 meters.

Petrobras will be the operator for Block 4 (40%), while YPF will hold equal stakes, and Petrogal 20%. In Block 3, Petrobras holds 40% of the stakes, YPF will be the area’s operator (40%), and Petrogal holds the remaining 20% of the rights.

The Company will have four years to study the seismic data and decide if it will undertake drilling activities. In the tender, the Company committed to perform the 2D seismics and to complete the reprocessing of existing data.

Petrobras is world-renowned as one of the global leaders in deep-water oil exploration and production. To the Company, operating in Uruguay is important for the energetic integration of the Southern Cone.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs