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ANCAP contracts Fugro for aerial survey in Uruguay

Friday, March 11, 2011

Uruguay state-run oil company ANCAP has signed a contract with Fugro for a complete aero-magnetic survey of Pelotas, Punta del Este and Oriental del Plata offshore basins.

It is expected that after signed the contract with Fugro, the acquisition and processing of the aero magnetic data will last around six months. It is a multiclient contract under which the costs and the risks generated by the survey will be covered by Fugro who then will have exclusive rights for licensing the data to the oil companies interested in the Uruguay Round II bid in early 2012.

The company will start the survey when it has obtained enough pre-funding from oil companies to afford the budget. The agreement covers the acquisition, processing and interpretation of 50.000 linear Km of high resolution magnetic data of the Uruguayan offshore.

ANCAP already holds multi-client agreements with CGG Veritas for near 12.000 Km of 2D seismic data (acquired from 2002 to 2008), and has signed an agreement with ION/GXT for the acquisition, processing and interpretation of seismic data offshore, the so-called UruguaySPAN (3.000 to 3.500 km of regional data that will link the Uruguayan basins with the neighboring offshore basins in Brazil and Argentina). At the same time, in the next weeks ANCAP is going to announce the winner of a tender for acquisition of exclusive regional and infill 2D seismic data (between 5.600 km and 7.000 km of regional and infill data).

In addition, ANCAP is negotiating agreements for the identification of oil seeps, the analysis of samples of the offshore wells for fluid inclusions stratigraphy, petroleum geology evaluation, as well as other non-exclusive projects with international service companies.

Associated Companies
» Fugro NPA Ltd

External Links
» Fugro

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