Petroleum / Mining in Uruguay
-
URUGUAY, 2015/08/06
-
URUGUAY, 2014/03/01
This conventional potential is in addition to the by presently identified unconventional potential of the play. However the company noted that while the porosity and permeability measurements are limited and restricted to only one core-hole at this stage, they are nonetheless indicative of excellent reservoir potential.
Coupled with the existence of free oil in different formations over much of the Piedra Sola block, the data is highly encouraging.
-
JAPAN, 2013/05/31
In statements to El Observador, ANCAP’s exploration and production manager Hector Santa Ana stated that both companies have by presently drafted a farm out (transfer of rights) for ANCAP’s approval.
Santa Ana said that this type of transaction (the sale of part of the blocks) was within the possibilities outlined in the arrangement the Uruguayan National signed with the four companies operating the eight blocks of the Uruguay Ronda II, albeit within certain limits. Each company may divest up to a maximum of 30% of its stake in the block, but cannot forsake its major operator status in its assigned area.
