Challenger Energy has released the main findings of a technical assessment of the company’s AREA OFF-1 exploration license offshore Uruguay.
This has defined a prospect inventory of 1-2 BBoe based on 2D seismic reprocessing, managed by Down Under Geophysics in the UK, with three standout structures identified. The play types are consistent with those de-risked following recent successful conjugate margin drilling in the Orange basin off Namibia, across the Atlantic Ocean.
AREA OFF-1 is in the Punta del Este basin, along the Uruguay-Argentina continental margin. This and the Orange basin off southern Namibia and northern South Africa were co-joined prior to continental separation and are thought to have similar geological characteristics in terms of potential source rocks and petroleum systems.
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.