(OM) Challenger Energy Group (CEG) expects to fulfil its work commitment for the first four-year exploration period on the AREA OFF-1 Block offshore Uruguay during second-quarter 2023.
This includes 2D seismic reprocessing and various technical studies. In parallel, the company is seeking a farm-out to bring in a partner to fund an accelerated 3D seismic acquisition program.
It is also assessing offshore green energy opportunities on or close to OFF-1.
Elsewhere, the company is in talks with the government of the Bahamas concerning an extension of its offshore licenses into a third, three-year exploration period.
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