Uruguay

    Uruguay may have found an offshore natural gas field holding as much as 3 trillion cubic feet of resources during studies of exploration areas it plans to auction in July 2009, the country’s state oil company said. The potential discovery near the mouth of the Rio de la Plata follows seismic tests by the government’s Administracion Nacional de Combustibles Alcohol e Portland, or Ancap, Hector de Santa Ana, its exploration and production manager, said in an interview. If confirmed, the find could supply Brazil for close on four years, or meet almost all of the US’s winter gas needs. Uruguay wants to open gas fields after falling output led neighboring Argentina to cut exports. (Bloomberg)

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