Uruguay reveals candidates for licensing round

Six companies, including national oil firms, expressed interest in acquiring acreage under Uruguay’s first offshore licensing round.

The candidates include BHP Billiton Ltd., Galp Energia, SGPS SA, Petroleos de Venezuela SA, Petroleo Brasileiro SA, Pluspetrol SA, and YPF SA.

Despite the low number, Administracion Nacional de Combustibles, Alcoholes y Portland (Ancap), Uruguay’s national oil company, said it is satisfied with the results considering low oil prices, the global economic slowdown, and the impact on the oil industry with operators reducing their budgets and suspending or canceling projects.
OGJ