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Uruguay
onshore and offshore
E&P ANCAP
AAPG ACE 2015, Denver, CO, USA
@International Pavilion, 2nd June 2015
Uruguay
Strong reasons to invest in Uruguay
Stable and reliable country.
Favourable macro-economic environment.
Attractive investment promotion and protection law.
Free Trade zones.
Leader in Latin Americas’ rankings (Democracy, Low Corruption, Economic freedom, etc.).
Strategic location (gateway to Mercosur) and modern infrastructure.
Strong political and social stability.
A country to live in.
Uruguay: summary for new ventures
Offshore
Bidding Round system (Rounds 1, 2, and #3 to be launched in 2015), ANCAP (Uruguayan NOC) call interested oil companies in carrying out E&P activities in the Uruguayan continental shelf, under PSCs.
Main Plays:
(R-T) Structural Palaeozoic (pre-rift) sands (SR) Cretaceous (synrift) lacustrine shales.
(R-T) Structural Upper Cretaceous carbonates (SR) (SR) Cretaceous (synrift) lacustrine and (sag) marine shales.
(R-T) Stratigraphic Cretaceous/ Tertiary turbidite sands (SR) Cretaceous (synrift) lacustrine and (sag) marine shales.
Uruguay: summary for new ventures
Onshore
‘Open Door’ system, qualified oil companies can submit to
ANCAP an offer (area, working program, etc.) : PSC
exploration-exploitation contract. ANCAP analyze and award
every quarter.
Main Play (conventional):
(R-T) Permian and Cretaceous aeolian and fluvial sands (SR) Devonian and Permian lacustrine shales.
Onshore: exploration update
Onshore: exploration update
Norte Basin (Parana Basin, Uruguay)
Schuepbach Blocks Salto & Piedra Sola: Acquired 600 Km of 2D seismic.
Drilled 2 stratigraphic wells.
Prospective Resources analysis (NSAI).
Moving ahead to 2nd exploration period.
TOTAL Blocks B1 & B2: MT survey planning.
Geochemical analysis over existing samples.
ANCAP: Open 8 blocks for exploration-exploitation
contracts.
Drilled 8 stratigraphic wellls and acquired geophysical data over areas w/o contract..
Planning mutli-client programs: 2D seismic and well logs editing.
http://total.uy/es/el-proyecto/bloques-b1-yb2
http://petrelenergy.com/irm/content/uruguay.aspx?RID
=298
Unrisked Prospective Resources of up to 910 MMBbl of oil and 3105 Bcf of gas in Schuepbach areas (Salto & Piedra Sola) assessed by NSAI (recertification on May 2015).
26 conventional leads identified based on 2D seismic, 21 of which contain both a Devonian and Permian section.
Onshore: exploration update
Salto and Piedra Sola
contracts @ 100%
(Only convencional
resources)
Prospective Oil
Resources
(MMBbls)
Prospective
Gas Resources
(BCF)
Original Oil in
Place
(MMBBls)
Original Gas in
Place
(BCF)
Low Estimate (P90) 147 574,5 559 894
Best Estimate (P50) 404 1472,5 1410 2276,5
High Estimate (P10) 910 3105 2892 4729
Onshore: opportunities
38500 Km2 of 3D seismic acquired on 2012-14
Offshore: exploration update
Already acquired 13000 Km2 of 3D CSEM
In preparation of an ultra-deep exploratory well (2500m+ WD) to be spud late 2015.
+ 2D seismic + surface geochemical survey + MMT
Offshore: opportunities
Offshore: exploration update
Multi-client Contracts in force Excellent business environment for multi-client contracts
Company Scope Quantity
3D seismic 15.700 Km2
2D seismic 10.000Km
2D seismic 2800 Km
Study of Petroleum Geology of Uruguay 2 reports
Fluid Inclusion analysis over 2 offshore wells 1 report
AVO/ Inversion over ANCAP’s 2D seismic 6400 Km
3D CSEM Marketing
EM 3D offshore Marketing
2D Seismic Marketing
Thank you for your attention!
Please visit us at booth # 2225
Pablo Gristo [email protected]
www.rondauruguay.gub.uy
