Article: Uruguay close to signing contracts.(Latin America)(Administracion Nacional de Combustibles Alcohol y Portland)(Brief article)

Ancap, Uruguay's state oil company, hopes to finalize the contracts for its first large offshore oil and gas exploration within a few weeks.

Santiago Ferro, a project engineer in Ancap's exploration and production unit, tells Oil Daily that the company hopes to sign the final contracts by early November.

In June, Ancap launched the bidding for 11 offshore blocks, which the firm says might hold as much as 2 trillion cubic feet of gas, as well as some oil (OD Jun.19,p4).

While six companies were prequalified to bid, Ancap received only one offer, which came from a consortium led ...

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