• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 8 hours Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 9 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 10 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 1 day Is anything ever sold at break-even ? There is a 100% markup on lipstick but Kuwait can't break-even.
  • 2 days Modest drop in oil price: SPRs vs US crude inventory build
  • 2 days 2019 - Attack on Saudi Oil Facilities.
  • 2 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 4 days Ukrainian Maidan after 8 years
  • 4 days Peak oil - demand vs production
  • 5 days "How the CO2 shortage is impacting the food and drink sector" - Specialty Food Magazine
  • 5 days NordStream2
  • 5 days "Gold Set To Soar As Inflation Fears Mount" by Alex Kimani

Uruguay Could Have Significant Recoverable Natural Gas Reserves

According to recent reports published by the U.S. Energy Information Agency, Uruguay could have recoverable natural gas reserves as high as 588 billion cubic meters, which would give it the region’s sixth largest potential natural gas assets.

Another report from the U.S. government two months ago states that Uruguay’s north basin alone, next to adjacent Brazilian fields, has a potential capacity of 368 billion cubic meters of “technically recoverable” natural gas, MercoPress news agency reported. Besides its north basin, the U.S. government report adds that Uruguay’s Denovian Cordobes formation could contain possible oil reserves of up to 500 million barrels.

U.S. company Schuepbach has a two year contract to survey Uruguay’s north basin with Uruguay’s government owned oil corporation Administracion Nacional de Combustibles, Alcohol y Portland, or ANCAP. While the Schuepbach contract expires later this month, ANCAP intends to begin exploratory drilling in the area before the first quarter of 2012.

Speculation mounted about Uruguay’s potential natural gas reserves after former President Tabare Vazquez announced a major gas find on his official Web site in June 2008 located about 90 miles off Uruguay's southern Atlantic coast near the city of Punta del Este.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News