The development stages:Seismic/2010-01.Operated by YPF, the block 3 covers an area of 5,500km3 and is located deepwater at Uruguay's Punta del Este basin. During Uruguay's first offshore round in 2009, the block was granted to a consortium formed by Petrobras (40%), YPF (40%) and Galp (20%). In 2013, Shell acquired Petrobras' stake. Before the round, Ancap conducted 2D seismics studies at the block. As part of the first phase of the project, 3D and 2D seismics studies will be conducted, which have to be completed before may 2014 to start the second phase, which includes drillings. In case of success in the exploration period, first production is expected by 2021.