ANCAP launches Uruguay Round 3 in Houston
On September 18th 2017 in Houston, the Ministry of Industry, Energy and Mining (MIEM) and the Uruguayan National Oil Company, ANCAP, launched the Uruguay Round 3, a bidding process for awarding areas for hydrocarbon exploration and production offshore Uruguay. This event counted with the participation of more than 100 representatives of the oil industry.
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, ANCAP´s Head of Geoscience, Pablo Gristo, and ANCAP´s E&P Professional Natalia Blánquez. During the event, ANCAP’s team presented the bidding Round terms of the Uruguay Round 3, the main features of the contract model, the petroleum geology offshore Uruguay and the exploration activities developed in Uruguay.
The Road Show was a success, taking into account that a great number of companies covered not only the Road Show but also requested individual Data Rooms. These indicators reflect the interest that the international oil sector shows towards the Uruguay Round 3. Additionally, the representatives of the different companies remarked the clarity and professionalism of the presentations.
Several of the top world oil companies attended the Road Show in Houston, as Anadarko, Apache, Hess, Nexen-CNOOC, Lukoil, Cobalt, Kosmos Energy, Conoco Phillips, Chevron, Noble Energy, Murphy Oil, ONGC Videsh, Talos Energy and Frontera Energy, among others.
The meeting was also attended by specialized press, consultant firms and services companies such as CGG, Spectrum, EMGS, ION, PGS, AGI, TGS, Geokinetics, Polarcus, Drilling Info, Schlumberger, Actus Veritas Geoscience, Technip, Petromarker, IHS and RPS.
ANCAP will offer Data Rooms to interested companies from September 18th to 22nd, 2017, at Hotel Sorella in CityCenter, Houston. Data Rooms are sessions between ANCAP and oil companies in which oil companies are allowed to visualize available geological and geophysical data (2D seismic and 3D, electromagnetism, wells logs, grav and mag, etc) of offshore Uruguayan basins, with the aim of giving the oil companies a first impression of the hydrocarbon potential offshore Uruguay.
Uruguay Round 3 Official Announcement in London will be held next October 20th, at Canning House. In this occasion, there will also be data room sessions from the 18th to 24th.