Successful Data Room and technical presentation in Rio de Janeiro of the Uruguay Round II

Several major players of the oil industry were participants of the Uruguay Round II presentation in Rio de Janeiro on November 9, 2010 that was done by the ANCAP technical staff. Uruguay Round Coordinator, Santiago Ferro and Geologists Ethel Morales and Bruno Conti, from the ANCAP Exploration and Production Division, presented the main data related to the geological and exploratory potential of Uruguay offshore, as well as the general contracting terms of Uruguay Round II bidding process for hydrocarbon exploration and exploitation. The Uruguay Round II is based on the promising Uruguay Round 2009 that opened in Uruguay a new industrial area for development.

The participants were composed by several companies of the oil industry, such as Exxon Mobil and El Paso (USA), Petrobras and Vale do Rio Doce (Brazil), ONGC Videsh (India), Statoil (Norway), Perenco (UK), Karoon Gas (Australia) y ENI (Italia); service companies as Fugro and Ion/GX Technology and specialized media as Upstream and EFE. The participation was a signal of the interest that the potential of the Uruguayan offshore for hydrocarbon exploration generates at the level of the oil industry. In addition, that interest was reflected in the several work meetings that the companies of oil sector requested to the ANCAP technical staff to know more in detail the information related to oil systems and models, direct and indirect indicators of hydrocarbons presence, and definition of oil and gas leads and prospects. During the following months ANCAP will continue to promote Uruguay Round II in world relevant events and centers for the oil industry (Houston, London, etc.) and answering to the interest of the industry sector about offered blocks, work program requisites, improvements in the legal framework, investment promotion policies and other issues of interest for the companies for evaluation of its participation in the Uruguay Round II bidding process.

For additional information please contact:

Hector Villaverde
Communications consultant
Uruguay Round II
Phone: +598 2 1931 2519