Recent developments in offshore exploration activities in Uruguay highlight the growing interest of major international operators in the South Atlantic region.
Chevron and QatarEnergy have acquired participation in two offshore explo
ration blocks, OFF-2 and OFF-7, previously held by Shell, which remains the operator. In OFF-2, QatarEnergy holds a 30% stake, while Shell retains 70%. In OFF-7, QatarEnergy and Chevron each hold 30%, with
Shell maintaining a 40% interest.
The entry of new partners reinforces the strategic relevance of Uruguay’s offshore sector and reflects increasing confidence in the hydrocarbon potential of the region. Multiple exploration blocks along the Uruguayan coast are currently under contract, involving both major and independent companies.
The region is attracting attention due to its geological correlation with recent significant discoveries along
the southwest coast of Africa, particularly in areas such as Namibia and South Africa. This geological similarity suggests the possibility of substantial hydrocarbon reserves in the South Atlantic margin.
As offshore exploration continues to expand in frontier regions, strategic partnerships between major operators play a key role in risk sharing, capital allocation, and technical development, contributing to the advancement of new energy provinces.
