Challenger selling Trinidad assets to focus on blocks off Uruguay

(offshore-energt.biz) Isle of Man-headquartered oil and gas company Challenger Energy Group (CEG) has provided updates on the reprocessing work being carried out offshore Uruguay and the sale of its assets onshore Trinidad and Tobago.

Expressing satisfaction with how Challenger Energy is currently positioned, the oil and gas company’s CEO, Eytan Uliel, said in a recent update that his firm’s balance sheet is strong and work programs fully funded, noting there is no need for additional capital anytime in the foreseeable future.

“One-third of the way into the year, I can report that 2025 is progressing to plan. We’re on track to see 3D seismic acquired over AREA OFF-1 later this year, on track to complete our technical work on AREA OFF-3 and launch a farm-out process for that block in the second half of the year, and we’re progressing the sale of the Trinidad business,” pointed out Uliel.

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