As farm-out process for block off Uruguay kicks off, multiple oil players show ‘strong’ interest

Uruguay’s offshore blocks went from zero to fully licensed in under three years, committing material work programs estimated at $233 million. Uruguay emerges as a new frontier in offshore energy, drawing renewed interest in oil and

Challenger Energy Group plc (LON:CEG) is a Caribbean and Atlantic margin focused oil and gas company, with a range of petroleum assets located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas

Oil prices edged higher on Tuesday, after hopes diminished that negotiations between Israel and Hamas would lead to a ceasefire in Gaza, and on Mexico’s plan to remove more crude from the global market. Brent crude

Challenger Energy has completed the formal award process for its AREA OFF-3 license offshore Uruguay, first awarded last June under the Open Uruguay Round process. Sign-off followed confirmation of final regulatory approvals. The first exploration period will

Challenger Energy has signed the AREA OFF-3 licence for oil and gas exploration offshore Uruguay. The licence, awarded under the Open Uruguay Round, has a four-year exploration period. Covering an area of 13,252km², the AREA OFF-3

Challenger Energy has signed the AREA OFF-3 licence for oil and gas exploration offshore Uruguay. The licence, awarded under the Open Uruguay Round, has a four-year exploration period. Covering an area of 13,252km², the AREA OFF-3

Challenger Energy announced the formal signing of its AREA OFF-3 license offshore Uruguay. The AREA OFF-3 license was awarded to the company on June 2, 2023, under the Open Uruguay Round process. Accordingly, AREA OFF-3’s first

Uruguay has firmly cemented itself as a leader in clean energy. The country of 3.4 million people wedged between Brazil, Argentina and the South Atlantic Ocean has an electricity grid that is 95% powered by low-carbon sources.

Challenger Energy Group has entered into a farm-out agreement with Chevron Uruguay Exploration (a wholly-owned subsidiary of Chevron) for a 60% interest in the AREA OFF-1 block in Uruguay in a US$12.5m deal. Under the terms of

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

CEG Uruguay, a subsidiary of the Isle of Man-headquartered oil and gas company Challenger Energy Group (CEG), is in the process of selling a partial stake in a shallow water exploration block off the coast of

The discovery of offshore oil has changed the fortunes of many countries, with Guyana the most recent example: the South American nation is the economy with the highest growth rate in the world thanks to the

Oil prices rose on Monday as investors focused on a tighter supply outlook after Moscow issued a temporary ban on fuel exports while remaining wary of further rate hikes that could dampen demand. Brent crude futures