Project Profile
Location: Pelotas basin and Punta del Este basin, 31 to 62 miles (50-100 kilometres) off the Uruguayan coast, southeast of Montevideo, Uruguay
Area: 26,000 square kilometres
Water Depth: 50 to 2,000 metres
BP has signed production sharing contracts for three deepwater exploration blocks offshore Uruguay. The signing of the contracts in Montevideo today completes the award of the blocks, for which BP was the successful bidder in Uruguay\'s second offshore licensing round in March 2012. The contracts cover blocks 11 and 12 in the Pelotas basin and block 6 in the Punta del Este basin. The blocks, which together cover an area of almost 10,039 square miles (26,000 square kilometres), are located approximately 31 to 62 miles (50-100 kilometres) off the Uruguayan coast, southeast of Montevideo, in water depths ranging from 164 to 6,562 feet (50 to 2,000 metres). BP will hold a 100% interest in the blocks and the Uruguayan state oil company, ANCAP, will have a right to participate of up to 30% in any discoveries. BP will carry out 2D and 3D seismic acquisition on the blocks during the initial three-year exploration phase of the contracts. This work is expected to begin in 2013.
Operators:
BP: Operator with 100% interest
Contractors:
Petroleum Geo-Services ASA: Seismic Survey