Sintana Energy: Uruguay well timeline extended, Argentina bid advances
Sintana Energy announced a one-year extension to the exploration timeline for its AREA OFF-1 block in Uruguay, with a well decision expected around September 2027 and drilling targeted for 2028. In Argentina, the company's private initiative for the CAN-200 offshore block has led to a government decree opening it to international tender, with Sintana holding a preferred position.
Sintana Energy Inc (TSX-V:SEI) President Eytan Uliel discussed two significant developments across the company's Latin American portfolio in an interview with Proactive.
Uruguay Update
The exploration timetable for the AREA OFF-1 block has been extended by a year after Chevron split its 3D seismic programme into two seasons due to a government-required fishing-season break between April and October. The first season is complete and being processed, while the second kicks off at year-end. A well decision is still expected around September 2027, with drilling targeted for 2028.
Argentina Bid Advances
Uliel revealed that Sintana has spent over 18 months pursuing a private initiative to secure a licence over the CAN-200 offshore block. A government decree has now opened the block to international tender. Because Sintana initiated the process, it holds a preferred position, giving it the right to match any competing bid.
Farm-Out Momentum
Uliel also flagged strong farm-out momentum at AREA OFF-3, Sintana's 100%-held second Uruguay block, with QatarEnergy and Chevron active on adjacent acreage. A farm-out is expected to close by year-end.
Outlook
With Namibia and Angola also in the mix, Uliel described an active six to twelve months ahead.
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