With the promotion phase of Uruguay Round II for offshore oil exploration and production leases complete, the process now turns to the qualification of interested companies and presentation of bid offers.

The round covers 15 blocks in three offshore basins: Pelotas, Punta del Este and Oriental del Plata.

Companies that participated in the road shows include Bridas Corp., Medanito, Petrobras, SCDM Energie, Total, BP, Noble Energy, YPF, Gazprom, Cove Energy, Petrina, Schuepbach Energy, Tierra Resources, Anadarko, Apache, Exxon Mobil, Shell, BHP Billiton, ConocoPhillips, Chevron, Tullow Oil, Marathon Oil, Murphy Oil, Repsol, Cove Energy, Kosmos Energy, Source Energy, BG Group, Statoil, Panoro Energy, Premier Oil, Cairn Energy, Lukoil, OGX, Niko Resources, El Paso, KNOC and CEPSA.

Production sharing agreements will be signed with the winning bidders. Until March 1, 2012, the oil companies can send interest letters to ANCAP along with documentation for qualifications to bid. The qualified companies can present proposals between March 22 and 29.

At 3:00 p.m. on March 29, ANCAP will open the bids received and has until Sept. 25 to select the winning proposals and companies.