Petroleum in Uruguay

Uruguay is a petroleum-importing country. For decades, Uruguay has been searching for petroleum reserves on its territory. One of the first such attempts was in 1957, when ANCAP drilled in the north of the country.
In 2012, Uruguay engaged on a bidding process for the exploration of hydrocarbons. The following companies are interested: BP, BG Group, Total S.A., Bahamas Petroleum Company and Tullow Oil. Exploration efforts were made in offshore platforms, with an investment of over $1.6 billion in 3 years.