Challenger Energy has provided an update on its current work program concerning the AREA OFF-3 license offshore Uruguay.
The initial four-year exploration period started in June 2024.
Soon afterward the company started its technical work program using existing 2D and 3D seismic coverage, which has allowed it to focus on 3D seismic reprocessing.
To date, the company has completed reprocessing of 1,250 sq km of 3D seismic data from the survey that bp previously acquired. It has also concluded a satellite seep and slick study, a seabed geochemistry study and a multibeam echo sound survey, with results so far encouraging.
The next stage of work is underway, covering technical analysis and interpretation ahead of updated mapping, prospect definition and volumetrics. This exercise should be completed during the coming quarter.
Challenger then plans to use the results to support a formal farmout process for the license throughout the second half of 2025. Its previous program for AREA OFF-1 led to Chevron farming in as operator.
