As ink dries on signed license off Uruguay, search for partners coming up soon

(Offshore-energy.biz) Isle of Man-headquartered oil and gas player Challenger Energy Group (CEG) has formally signed a license for a shallow water exploration block off the coast of Uruguay. Aside from embarking on technical work, the firm intends to go on the lookout for partners to enable an early farm-out.

After Challenger Energy submitted a bid for the AREA OFF-3 block offshore Uruguay as part of the Open Uruguay Round, the first instance of 2023, the Administración Nacional de Combustibles Alcohol y Pórtland (ANCAP), the Uruguayan national regulatory agency, awarded the license for the block to the company in July 2023.

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