South America / GoM
Country profile: Uruguay
| Location: | Southern South America, bordering the South Atlantic Ocean, between Argentina and Brazil |
| Climate: | warm temperate; freezing temperatures almost unknown |
| Terrain: | mostly rolling plains and low hills; fertile coastal lowland |
| Size: | 176220 sq. km total (Land area: 173620 sq. km Water area: 2600 sq.km) |
| Population: | 3,477,778 (July 2008 est.) |
| Languages: | Spanish, Portunol, or Brazilero (Portuguese-Spanish mix on the Brazilian frontier) |
| Government: | constitutional republic |
| Capital city: | Montevideo |
| Legal system: | Montevideo |
| Currency: | Uruguayan peso (UYU) |
| Licensing: |
Country profile
Uruguay suffered through an economic crisis during 1999-2002, with average real gross domestic product (GDP) contraction of minus 4.7 percent per year during that period. Uruguay is a member of MERCOSUR, and its economy is highly integrated with those of its MERCOSUR partners; as a result, economic and financial instability in Brazil and Argentina, the two largest economies in MERCOSUR, was a prime cause of Uruguay’s economic troubles.
In recent years, though, the economy has rebounded, with real GDP growth of 12.3 percent in 2004 and 5.2 percent in 2005. A reduction in inflation, increasing world prices for Uruguay’s agricultural exports, revived economic growth in other MERCOSUR economies, and a $2.9 billion aid package from the International Monetary Fund (IMF) have all driven Uruguay’s economic recovery.
Energy production and consumption
| Oil | Gas | |
| Production: | 27,830 bbl/day (2007 est.) | |
| Consumption: | 33,400 bbl/day (2007 est.) | 102 million cu m (2007 est.) |
| Exports: | 4,410 bbl/day (2007 est.) | |
| Imports: | 43,670 bbl/day (2007 est.) | 116 million cu m (2007 est.) |
| Reserves: | NaN | NaN |
| Major fields: |
Uruguay - recent news
| 09 Dec 24 |
Uruguay: Pluspetrol acquires its first renewable asset in Uruguay Pluspetrol has announced the acquisition of the Cerro Grande and Peralta I and II wind farms in Uruguay. The wind farms constitute the second largest private renewable power generation portfolio in Uruguay. |
| 04 Nov 24 |
Uruguay: Challenger Energy provides AREA OFF-3 work program update Challenger Energy has provided an update for its AREA OFF-3 block, offshore Uruguay. The objective of the current work progam is to enable a robust prospect inventory to be mapped and for potential drill locations to be identified, in support of a formal farmout process which the Company is targeting to commence in mid-2025. |
| 29 Oct 24 |
Uruguay: Challenger Energy announces completion of AREA OFF-1 farmout to Chevron AIM-listed Challenger Energy, the Atlantic margin focused energy company, has announced that the farmout of a 60% interest in the AREA OFF-1 block, offshore Uruguay, to Chevron, has been completed. |
| 23 Sep 24 |
Uruguay: Challenger Energy in farmout agreement with Chevron for the AREA OFF-1 licence in Uruguay Challenger has received regulatory approvals for the farmout of the AREA OFF-1 licence, offshore Uruguay, to Chevron. |
| 28 Jun 24 |
Uruguay: PGS has received approval from ANCAP to acquire a large 3D MultiClient survey in Uruguay PGS has received approval from ANCAP to acquire a large 3D MultiClient survey in Uruguay. The new 3D GeoStreamer broadband seismic acquisition will enable a comprehensive assessment of the exploration potential offshore Uruguay. |
Uruguay - more news
Other countries in this region
- Argentina,
- Aruba,
- Bahamas,
- Barbados,
- Belize,
- Bermuda,
- Bolivia,
- Brazil,
- Canada,
- Chile,
- Colombia,
- Costa Rica,
- Cuba,
- Dominican Republic,
- Ecuador,
- Falklands,
- French Guiana,
- Grenada,
- Guatemala,
- Gulf of Mexico,
- Guyana,
- Honduras,
- Jamaica,
- Mexico,
- Nicaragua,
- Panama,
- Paraguay,
- Peru,
- Suriname,
- Trinidad,
- USA,
- Venezuela
