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Total to explore for oil north of Uruguay

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Staff writer ▼ | October 10, 2013
TotalTotal signed a deal with Uruguay's oil company Ancap to search for oil in the northern counties of Artigas and Salto.

Uruguay hopes that a major find will help it gain energy sufficiency, and perhaps even become a future exporter based on recent prospects.

"Currently we have no certainty that we effectively have hydrocarbons in Uruguay, and the more we work the more we increase the possibilities of finding something," said Total Uruguay director Christophe Sassolas. Mr. Sassolas said that exploration tasks are scheduled to begin next year and estimated the first results could be feasible in four years time. "It's a long term bet".

In recent years Uruguay, totally dependent on imported oil, has launched several programs to look for hydrocarbons both on shore and off-shore.

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