Uruguay has discovered a promising offshore gas deposit that has the potential to turn its small agricultural- and services-orientated economy into that of a net gas exporter in an increasingly gas-starved region, according to Daniel Martínez, the country’s industry and energy minister.
The resource, located 100 km (60 miles) off the coast of Uruguay’s fashionable Punta del Este resort, shares geological features of the Santos Basin, where neighbouring Brazil has made important discoveries. These include the Tupi field, with its estimated recoverable reserves of 5bn to 8bn barrels of oil and natural gas.
