Oil Business

After nearly 30 years of very limited exploration activity in Uruguay , the national government through ANCAP and the company Wavefield - Inseis ASA joined forces with a challenging goal :


To reach a comprehensive knowledge of all the offshore basins of Uruguay . For this purpose a 2D regional seismic survey 7000km (2007 ) , which was supplemented with 2D seismic semi-detailed scale of 2800Km ( 2008), Punta del Este basin was performed.


This new seismic data complied with the order to "take the veil" of uncertainty; a geological and geophysical sedimentary exploratory frontier provinces of greatest potential lack southwestern Atlantic.
Based on this new seismic data and the interest aroused in the same industry, it was decided to organize the 2009 Uruguay Round.
That is why in 2008 ANCAP was commissioned by the Executive to the implementation of the 2009 Uruguay Round, which consisted of a call for interested parties to the award of Contract for Exploration and Exploitation of Hydrocarbons in areas of the Uruguayan continental shelf.
Once the decision to make the 2009 Uruguay Round, the team identified a number of key objectives :
  • Put Uruguay on the world oil map
  • Oil companies to consider the project in its Uruguay
  • Budget in upstream exploration frontier basins
  • Rating of more than an oil company 's annual Top 100 ranking
  • Energy Intelligence Research
  • Get at least one offer on 1 July 2009
Efforts to meet these goals is based on 3 pillars: establishing an appropriate legal and regulatory framework, strong technical support to be able to show the exploration potential of our watersheds and highlight the positive frame of investment and business in the country. The promotion and dissemination of these pillars of the project against the upstream industry consisted a key to its success .
The image shows the notice published by the Norwegian company Wavefield Inseis ASA (now acquired by CGGVeritas ) to promote multi-client 2D seismic data surveyed in 2007 and 2008. The promotion emphasizes that Uruguay is an unknown destination, a "secret" (Figure 3 ) , for the oil industry , which is clearly related to the first of the objectives under the 2009 Uruguay Round. Uruguay was not in the global oil map (at least in the upstream industry ) .
The 2009 Uruguay Round had a schedule of 7 months duration. It was launched on 1 December 2008 in Montevideo, in an event that featured speeches and presentations by Ministers, Head of Energy and Industry and Chairman of ANCAP among others.

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