Challenger Energy bids for AREA OFF-3 offshore license in Uruguay

Oil and gas company Challenger Energy said Monday it had submitted a bid for and expected to win the rights to the AREA OFF-3 license offshore Uruguay, the sole remaining available block offshore Uruguay.

All other offshore exploration licenses are held by energy majors Shell and Apache and YPF, the Argentinian national oil company.

“The AREA OFF-3 licence is 13,252 km2 and will increase [Challenger Energy’s] total Uruguay acreage holdings to ~28,000 km2, making CEG the second largest offshore acreage holder in Uruguay behind Shell,” Challenger Energy said.

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 and Uruguay.

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