In late-April 2018, state company ANCAP officially declared the Uruguay Round 3 offshore bid round void after the deadline passed with no bids received. It was said that Tullow Oil (operator of Area 15 offshore block) and AziLat Petroleum submitted their documentations to qualify as operators before 6 April 2018, although no economic offers were received when the deadline passed on 26 April 2018. ANCAP is reportedly considering modifying the blocks and the terms for the future.  The bid round started with a road show presented by representatives of the company and the Uruguayan Ministry of Energy in Houston, Texas in September 2017. There were 17 blocks offered, covering the offshore basins of Pelotas, Rio Salado, and Argentina Basin with areas ranging from 2,500 to 6,500 sq km. Most of the blocks are situated in shelf to deep water with depths ranging from 50 m to 3,500 m, along with few additional blocks located in ultra-deep water over 4,000 m deep.    Background Information  The announcement for Uruguay Round 3 was originally expected to take place in late-2014 but has been delayed several times, reportedly due to the low oil price situation.Â  Spectrum concluded a multi-client 3,600 km 2D seismic survey in the ultra-deep water Federal Open area of the Pelotas Basin during November 2014 to January 2015 in preparation for the bid round. This survey complements the multi-client Spectrum Recon 2D survey acquired in the same area in 2013 covering 1,625 km.
Uruguay, Area 15