Foreign Companies Begin Oil Exploration In Uruguay’s Norte Basin

Patrick Archer competitiveness, foreign investment, real estate, uruguay, us companies

The next chapter in Uruguay’s quest for reduced dependence on foreign oil commenced this week with the announced seismic exploration of two large oil blocks in Uruguay. Dallas-based Schuepbach Energy International (SEI) holds the concessions for the Salto block which occupies 925,000 acres entirely in Salto and the Piedra Sola block which encompasses over 2.5 million acres in four northern Uruguay departments …