Uruguay Oil And Gas Profile
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Uruguay News

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Most Recent Updates

Introduction

  • Uruguay is a newcomer to oil and gas exploration, having held its first offshore round in 2009

History

  • 2009 - First offshore round held

Regulation

  • Onshore
    • Decree 454/006 establishes an open door system, in a first come first served basis
    • Only qualified companies may submit offers
    • Offers are opened and compared at the end of every quarter (31/3, 30/6, 30/9 and 31/12)
    • Production Sharing Contracts are awarded with ANCAP’s association up to 50%
    • Contract lengths are as follows: Exploration: 3 + 2 + 2, Production: 25 years
  • Offshore
    • Blocks are offered in bidding rounds
    • Legal, Financial & Technical documentation must be submitted
    • As a result company can qualify as operator for all areas, operator for shallow waters, non operator or not qualify.
    • Only qualified companies may take part in the bidding
    • ANCAP’s association varies, the maximum is biddable, but the minimum is 20%.

Upstream

  • -

Active Companies

  • ANCAP is the state company responsible for oil and gas activities

Crude Oils

  • -

Midstream

LNG

Downstream

Relevant Links

  1. Assessment of Potential Shale Gas and Shale Oil Resources of the Norte Basin, Uruguay, 2011
  2. Oil & Gas Rounds
  3. ANCAP
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