The companies’ local subsidiaries, Chevron Uruguay Exploration and CEG Uruguay, will partner on AREA OFF-1, a shallow-water asset lying around 100 kilometres off the Uruguayan coast and covering a sizeable 13,252 square kilometres.
Chevron will operate the block, while Challenger will retain a 40% non-operating interest.
Uruguay has “fast become one of the world’s frontier exploration hotspots,” Challenger CEO Eytan Uliel said.
The block’s exploration period will run for four years beginning in June 2024. It was won by Challenger via the country’s open round process.
UK-headquartered Challenger Energy is a Caribbean- and Americas-focused E&P player.
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
Seatrium has been awarded a contract by SBM Offshore for the topsides fabrication and integration of an additional FPSO vessel… Read More
Diamond Offshore has secured a USD 350-million extension for an ultra-deepwater drillship deployed for Anadarko Petroleum in the US Gulf… Read More
This website uses cookies.