Four oil companies won bids to explore for oil off Uruguay's coast, state oil company Ancap announced March 30. They will invest a combined $1.56 billion over three years of exploration efforts, and Ancap will hold a minority stake in each of the concessions. How successful was Uruguay's oil auction? What do the results indicate about the possibility of future discoveries? What has the country done right to attract investment and where could it improve?
Re-posted with permission from the publishers as a PDF document as part of an Institutional Repository collection to aggregate energy policy, regulation, dialogue and educational materials.
Inter-American Dialogue's Latin American Energy Advisor. "Will oil exploration in Uruguay be successful?." (2012). http://digitalrepository.unm.edu/la_energy_dialog/66