This document summarizes information about Uruguay's upcoming Round 3 bidding process for offshore oil and gas exploration blocks. It provides details on previous exploration work including seismic surveys and well drilling. A map shows the locations and types of blocks that will be offered in Round 3, with areas in deeper waters eligible for longer exploration periods and higher cost recovery limits. Data from multiple seismic surveys and other studies will be available for licensing to bidding companies. The document outlines where to find more information on the government website and highlights that the terms and contract model will be similar to the previous round, with profit sharing and state-owned ANCAP having an association in committed exploration programs.

1. URUGUAY ROUND 3
Booth #1350
M. Eng. Santiago Ferro
Thursday, February 11, 2016
Houston, TX

2. A PLACE TO INVEST, WORK AND LIVE
URUGUAY
- NATIONAL OIL COMPANY
- HYDROCARBONS AGENCY
ANCAP
Source: Uruguay XXI

3. 2D Dip seismic section of Punta del Este Basin
Neocomian Lacustrine Fan in half
graben.
Paleocene basin floor fan system
Paleocene Turbidites reworked by
contourite currents
2D Dip seismic section of Pelotas Basin
Early Cretaceous Carbonates in
horst with DHI
High Amplitude Upper Cretaceous
Turbidites
Miocene Turbidites with DHI

4. CONTRACTS IN PLACE EXPLORATORY WORK 2012 - 2015
39.000Km2 of 3D seismic
13.500Km2 of 3D EM
3.000Km of 2D seismic
250 seabed samples
39.000Km2 of 3D seismic
1 ½ years extension of exploration period of all contracts
in force offshore, due to downturn in upstream industry

5. WORLD RECORD WELL TO BE
SPUD IN MARCH 2016 (3411m
WATER DEPTH)
Source: Total Investors’ Day – September 2015

6. URUGUAY ROUND 3
MAP OF BLOCKS TO BE OFFERED
Map of Blocks is still a Draft until bidding round terms and contract model are officially approved by the Executive Branch.
Areas Type I: Shallow waters, up to 100m
Lower qualification requirements for oil companies
Areas Type III: Ultra-deep waters
Longer exploration periods
Higher cost recovery limits: 70% and 90% instead of
60% and 80% as for Areas Type I and II
Areas Type II: Deep waters, ranging from 100m up to
3500m
17 blocks
From 2.500 to 6.500Km2
Avg. Size: 4.380Km2

7. DATA AVAILABLE THROUGH MULTI-CLIENT AGREEMENTS
Spectrum: 10400Km of 2D seismic PGS: 15700Km2 of 3D seismic ION: 2800Km of 2D seismic
Other MC agreemens, paperwork
in progress:
• TGS: sísmica 2D
• TGS: well logs
• ION: reprocessing of 7000Km
of 2D seismic
• ION: 3D seismic
Robertson: 2 geological reports
FIT: Fluid Inclusions Study of Lobo
and Gaviotin wells
Schlumberger: Advanced
Interpretation Data Package
EMGS: 3D CSEM (not acquired
yet)

8. www.rondauruguay.gub.uy or
http://exploracionyproduccion.ancap.com.uy/
WEB PAGE
• Geological information about Uruguayan
offshore and onshore basins
• Available E&P database
• Bidding round terms
• Map of offered areas
• Contract Model
• FAQs
• Contact information
• Videos and presentations

9. MAIN FEATURES OF TERMS AND CONTRACTS
• Definitive bidding round terms and contract model available since
the official announcement
• Very similar to those applied in Uruguay Round II: PSC, biddable
items: profit oil sharing, ANCAP’s association and committed
exploratory program
• Qualification of Oil Companies regarding legal, financial and
technical documentation
• Licensing multiclient or ANCAP’s data is not mandatory but will
count as working units
• Some blocks can be awarded by just licensing existing data