Challenger Energy is the holder of two offshore exploration licences in Uruguay- the AREA OFF-1 and AREA OFF-3 blocks. Together the two blocks represent a total of approximately 28,000 km2 – the second largest offshore acreage holding in Uruguay.
Since 2022, and following on from successful exploration drilling in the conjugate margin offshore Southwest Africa, the region has seen a significant increase in licencing and operational activity, and has become an emerging industry ‘hot spot’. All blocks offshore Uruguay have been licenced in the last 24 months, and with the exception of the two licences awarded to CEG, all have been awarded to international oil and gas majors.
0.05Share Price Performance