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
| 01 Sep 26 |
Uruguay: Eni strengthens and expands its presence in Uruguay’s offshore sector Eni has signed, together with MIWEN (a wholly owned subsidiary of YPF) and the Uruguayan National Oil Company ANCAP, the official agreement for the entry in the OFF-5 exploration block offshore Uruguay, following approval by the Uruguayan authorities. |
| 21 Jul 26 |
Sintana Energy announces Latin-America updates ANCAP, the Uruguayan state-owned energy company and regulator, has agreed to a suspension of the initial exploration subperiod of the AREA OFF-1 block, offshore Uruguay, for 1 year. On 14 February 2025, Challenger Energy Group, a member of the Sintana group of companies, submitted an expression of interest for the award of an offshore hydrocarbon exploration permit under national jurisdiction in the North Argentine Basin (CAN - 200). |
| 05 Mar 26 |
Uruguay: Viridien announces Charrua 3D seismic survey offshore Uruguay Viridien has announced the commencement of the Charrua 3D multi-client survey offshore Uruguay, marking a significant step forward in Uruguay’s offshore energy development. |
| 03 Mar 26 |
Uruguay: Sintana Energy announces commencement of 3D seismic acquisition in AREA OFF-1, offshore Uruguay Sintana Energy, the Atlantic-margin focused oil and gas company, has announced that the planned 3D seismic acquisition campaign on AREA OFF-1, offshore Uruguay, has commenced. The AREA OFF-1 survey is being carried out by the contractor Viridien, using the BGP Prospector vessel, and will cover a total of approximately 4,300 km2. |
| 25 Nov 25 |
Uruguay: Eni acquires from YPF a 50% share and operatorship in the exploration Block OFF-5 offshore Uruguay Eni has signed an agreement for the acquisition from YPF of a 50% share and operatorship in the exploration Block OFF-5 in Uruguay’s offshore. Block OFF-5 represents a highly prospective area that further strengthens Eni’s exploration portfolio that combines a large and robust set of near-field and infrastructure-led exploration prospects. |
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
