Uruguay Rounds I and II launched by the Uruguayan government for offshore oil and gas prospecting culminated with award of blocks to companies including BP, BG, Shell, YPF, GALP, TOTAL and Inpex. Given the rounds’ success, implementation of Uruguay Round III was approved in mid-2014.

The Uruguayan government has already begun promoting Uruguay Round III, announced for the following months, at international industry fairs such as NAPE, APPEX and AAPG, and soon to include EAGE and others. According to the government, 40% of the total area to be awarded to private companies remains to be allocated and will be made available to interested parties in Uruguay Round III. The government estimates that TOTAL will have already performed its first drilling before the Round III launch.


Santiago Fontana: sfontana@ferrere.com