Uruguay Round 3 is a call for bids for Areas for Exploration and Exploitation of Hydrocarbons in the Economic Exclusive Zone of Uruguay.
The Uruguayan National Oil Company (ANCAP), and the Ministry of Industry, Energy and Mining (MIEM), are pleased to invite you to the official announcements of Uruguay Round 3, which will be held on September 18th, 2017 in Houston and on October 20th, 2017 in London.
Both events will have the presence of ANCAP’s and MIEM’s authorities, and will include presentations about the geology and hydrocarbon potential of Uruguayan offshore basins, bidding round terms, legal and contractual framework for exploration and production of hydrocarbons, and aspects related to the investment promotion regime that our country offers.
Interested companies can also register to the Data Rooms to work individually over the complete offshore Uruguay database. These technical meetings must be coordinated directly with ANCAP, and will take place in Houston, between September 18thand 22nd and in London, between October 18th and 24th, 2017. Additionally, Data Rooms in ANCAP’s offices in Montevideo can also be arranged at any convenient date.
Bidding round terms and contract model of Uruguay Round 3 will be of similar characteristics to those of the successful Uruguay Round II, but with less rigorous requirements regarding the qualification of oil companies and with regards to the required exploratory program for each area, taking into consideration the current situation of the oil and gas industry.
With the aim of promoting the participation of independent oil companies focused on exploratory operations, the possibility of qualification for the Exploratory Period only, is incorporated, with technical and economic requirements significantly different.
Seventeen areas will be offered in the 3 offshore basins, with bathymetries ranging from 50m to more than 4,000m of water depth. Areas will be divided in Type I, Type II and Type III according to water depth. Exploratory Period will have a term of 8 years for Type I and Type II areas and of 10 years for Type III areas. The contract term including the Exploitation Period is 30 years, which could be extended 10 additional years.
Data packages for licensing (well logs, 2D and 3D seismic, geological reports, fluid inclusions analysis, among others) are available for interested oil companies. These are marketed directly by ANCAP or by service companies under multilcient agreements. The licensing of such information will be counted in the offers as part of the Committed Exploratory Program.
The deadline for the submission of documents for the qualification of oil companies is April 6th, 2018 and the opening of offers is April 26th, 2018.
ANCAP, on behalf of the Uruguayan Government, is very pleased to invite you and your company to contact us to learn more about the details of this excellent opportunity of frontier exploration, to acquire an asset with very good contract terms.
The participation in the official announcements and Data Rooms is free of charge, but previous registration is required. Please, confirm your attendance through the following REGISTRATION FORM
For more information contact us at: info@rondauruguay.gub.uy
