The Uruguayan Administration has approved so-called “Uruguay Round III” (“Tercera Ronda Uruguay”) to be conducted during 2015 with the purpose of exploring oil in Uruguay’s maritime platform.
In previous years, Uruguay carried out “Uruguay Round I” and “Uruguay Round II” which ended up in the award of 10 offshore platforms for oil prospection and exploration purposes. Total investment under the first two rounds amounted to U$S 1,800 million up to now. Awarded bidders include companies such as British Petroleum, British Gas, Total and Tullow Oil.
The above round is encompassed within a long-term project of the Uruguayan Administration aimed at developing and expanding Uruguay`s energy resources.