Uruguay’s regulator ANCAP has agreed to Chevron’s request to suspend the initial exploration sub-period of the AREA OFF-1 Block offshore Uruguay for one year.

It will now expire on Aug. 23, 2027. Chevron’s partner Sintana Energy reported July 21 the extension reflects the time taken for environmental authorization of the AREA OFF-1 3D seismic acquisition campaign.

AREA OFF-1 covers about 14,557 sq km in the Punta del Este Basin, roughly 100-150 km offshore Uruguay, in water depths ranging from about 50 m to 1,000 m.

Offshore Uruguay has attracted growing interest from international operators in recent years due to perceived geological similarities with the conjugate margins offshore Namibia and South Africa. All seven of the country's offshore blocks have now been awarded under exploration and production contracts, with operators advancing seismic programs and planning exploration drilling.

After authorization came through in early 2026, the initial phase of seismic acquisition was completed prior to the end of April. The second phase is due to start in the fourth quarter.

Sintana explained that acquisition, processing and interpretation of all the planned 3D seismic data is essential for optimizing the exploration well drilling decision.

The company also issued an update on an expression of interest submitted by its subsidiary Challenger Energy Group last year for the award of an offshore hydrocarbon exploration permit in the North Argentine Basin (CAN - 200).

Last week Decree 590/2026 was published in the Official Gazette of the Argentine Republic. This instructs the National Secretariat of Energy to call for an International Public Tender based on Challenger Energy's expression of interest.

Challenger plans to participate in this process.