In early-2020, official maps published by state company ANCAP showed some changes to the blocks that are being offered in the country's Uruguay Open Round. Specifically, three onshore blocks (ON-3, ON-4, and ON-5) have been modified to include new acreage from areas that were relinquished by Schuepbach Energy International and a new offshore block, OFF-7, has been added in the former Area 15 license that was relinquished by Tullow Oil in mid-2019. In June 2020, ANCAP announced that it has awarded OFF-1 to Bahamas Petroleum Company and approved the offers for OFF-2 and OFF-3 from Kosmos Energy, although the signing of the corresponding contracts for the latter two blocks is being delayed due to the current coronavirus disease 2019 (COVID-19) pandemic. As of mid-June 2020, there are nine available blocks covering approximately 87,354 sq km of area with five onshore blocks (25,767 sq km) and four offshore blocks (61,587 sq km), specifically.    The five onshore blocks were created from the combination and rearrangement of the ten available open areas in Chaco-Parana Basin that have been offered since 2014 in a previous open round. Each of the new onshore area included at least one P&Aâd new-field wildcat well from the 1930âs and the 1980âs, except ON-3 block which had no NFW wells and only stratigraphic wells from 2012 and 2013.           Uruguay Open Round (onshore)         Â              Block Name         Main Basin         Area (sq km)             ON-1         Chaco-Parana Basin         5,021             ON-2         Chaco-Parana Basin         4,424             ON-3         Chaco-Parana Basin         6,677             ON-4         Chaco-Parana Basin         5,456             ON-5         Chaco-Parana Basin         4,189        Â   Meanwhile in offshore, four blocks are offered with water depths ranging from 50 m to over 4,000 m in the Pelotas, Rio Salado, and the margin of Argentina Basin. Outside of the aforementioned new OFF-7 block, all of the other blocks covered areas that were previously offered in the last Round 3 offshore round in 2018, in addition to areas that were relinquished by Total (Area 14) and Shell (Area 8, 9, and 13). OFF-6 block includes the most recently drilled Raya 1 well that was P&Aâd by Total in 2016.          Uruguay Open Round (offshore)             Block Name         Main Basin         Area (sq km)             OFF-4         Rio Salado Basin         10,000             OFF-5         Pelotas Basin         16,848             OFF-6         Pelotas Basin         16,519             OFF-7         Pelotas Basin         18,220        Â   The biannual open round process was originally launched in May 2019 with six blocks offshore and five blocks onshore. The exploratory period reportedly will have a term of up to 11 years, with no drilling commitment in the first and second phase (the first six years), then followed by 30 years of exploitation period with possibility of a ten-year extension. The round will be open continuously, with offers opened at the end of the month in May and November of every year. Interested companies will need to qualify one month prior to the deadline for the submission of bids and submit a bid with their proposed work program for the first exploration period, profit oil split with the Uruguayan government, and ANCAPâs association percentage.  More information regarding the Uruguay Open Round can be obtained by contacting ANCAP at info@rondauruguay.gub.uy .  Background Information  According to reports in June 2018, Uruguayan Minister of Industry, Energy and Mining was considering an open round process to offer the countryâs offshore blocks after the Uruguay Round 3 offshore round was declared with no bids received. Meanwhile, the country also has been offering opportunities on its onshore blocks through an open door round process since 2014, although no offers have ever been received since it was launched.
In early-2020, official maps published by state company ANCAP showed some changes to the blocks that are being offered in the country's Uruguay Open Round. Specifically, three onshore blocks (ON-3, ON-4, and ON-5) have been modified to include new acreage from areas that were relinquished by Schuepbach Energy International and a new offshore block, OFF-7, has been added in the former Area 15 license that was relinquished by Tullow Oil in mid-2019.