Challenger Energy Group has bid for AREA OFF-3 license, the sole remaining block to be awarded offshore Uruguay.
The company operates AREA OFF-1, while Shell, Apache and YPF hold the remaining licenses.
AREA OFF-3 spans 13,252 sq km in 20 m to 1,000 m of water, about 100 km offshore, and it has 2D and 3D seismic coverage, the latter acquired by PGS for bp in 2012. Challenger estimates the resource potential at up to ~500 MMboe and up to ~9 Tcf of gas, from various exploration plays, with mapped prospects of interest in water depths of ~250 m.
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.