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
| 18 Mar 24 |
US: Sempra Infrastructure launches Cimarron wind project Sempra Infrastructure, a subsidiary of Sempra, has reached a positive final investment decision for the development, construction and operation of the Cimarron wind project, the third phase of the Energía Sierra Juarez (ESJ) wind complex. The Cimarron wind project is fully contracted under a 20-year power purchase agreement to Silicon Valley Power for the long-term supply of renewable energy to the City of Santa Clara, California. |
| 11 Mar 24 |
Uruguay: Challenger Energy announces formal signing of AREA OFF-3 licence, offshore Uruguay AIM-listed Challenger Energy, the Caribbean and Americas focused energy company, has announced the formal signing of its AREA OFF-3 licence, offshore Uruguay. As with the Company's AREA OFF-1 licence, the immediate strategy for AREA OFF-3 is to commence accelerated technical work, in support of seeking an early farm-out. |
| 06 Mar 24 |
Uruguay: Challenger Energy announces farmout of 60% of Area OFF-1 block offshore Uruguay to Chevron Challenger Energy has announced that it and its wholly-owned Uruguayan subsidiary, CEG Uruguay, have entered into a farm-out agreement with Chevron related to a 60% interest in the AREA OFF-1 block, offshore Uruguay. |
| 14 Dec 23 |
Uruguay: Challenger Energy provides update on Uruguayan assets AIM-listed Challenger Energy, the Caribbean and Americas focused oil and gas company, has provided an update in relation to its Uruguayan assets. |
| 12 Dec 23 |
Uruguay: PGS releases data for Uruguay farm-in opportunities PGS has MultiClient 2D and 3D data and QI products to support evaluation of farm-in opportunities. Production sharing contracts are expected to be signed imminently on all seven offshore exploration blocks secured by operators following the Open Uruguay Round in May 2023. |
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
