Uruguay will tender 17 offshore area. Round III
The National Fuel, Alcohol and Portland Administration will tender 17 areas on the Uruguayan maritime platform for the exploration and exploitation of hydrocarbons. The Government's objective is to promote the participation of independent companies with a focus on the exploratory phase, and therefore the tender contemplated a provision by which companies could qualify only for this phase.
This round will contain less strict requirements than those contemplated in the Uruguay Round II.
The areas will be divided into three types depending on the depth and the exploratory period that goes from 8 to 10 years. The exploitation period is for a 30 years term with option to extend it for 10 years.
The Uruguayan Government will present this round on September 18 in Houston and on October 20 in London.
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