In the morning of October 20th at Canning House in London, the Ministry of Industry, Energy and Mining and ANCAP presented the Uruguay Round 3, a bidding process of areas for the exploration and production of hydrocarbons offshore, which was considered as a very successful event for the Uruguayan delegation.
More than 60 representatives from the oil and gas industry and related service companies were present to know more in detail the Uruguay Round 3. In addition, ANCAP is offering, also at Canning house, Data Room sessions to interested companies, which started on October 18th and will extend until October 24th.
In this opportunity, the Uruguayan delegation was integrated by the Deputy Minister of Industry, Energy and Mining, Guillermo Moncecchi, ANCAP’s CEO, Ignacio Horvath, ANCAP´s E&P Manager, Héctor de Santa Ana, ANCAP´s Head of E&P Administration and Contracts, Santiago Ferro and ANCAP´s E&P Professionals Bruno Conti and Natalia Blánquez. During the event, there were various presentations, which covered the institutional framework and general features of the investment policy in Uruguay, the main features of the bidding round terms and contract model of Uruguay Round 3, as well as the petroleum geology and hydrocarbon potential offshore Uruguay and the exploration activities developed in the country.
Several oil companies attended the Road Show in London, such as Azimuth, Chariot Oil & Gas, ENI, Statoil, Summit E&P and Woodside. The meeting was also of interest for specialized press and service companies, including AGI, CGG, ION, PGS, Polarcus, TGS and Spectrum. The attendance of these oil and service companies, together with the ones that joined us in the Official Announcement and Data Rooms in Houston last September, shows that the industry is evaluating and interested in the process of Uruguay Round 3.
Before April 6th, 2018, oil companies interested in Uruguay Round 3 must submit the required documentation for qualification, in order to be allowed to submit offers. The opening of such offers will be held on April 26th, 2018.