Challenger Energy will present a technical update on the AREA OFF-3 block at the BEOS conference in London on March 5, 2025. Key progress includes nearly completed seismic data reprocessing, improved imaging outcomes, and the identification of promising prospects and petroleum systems. The company seeks to partner through a formal farmout process in the second half of 2025.
Challenger Energy, an AIM-listed company, will deliver a technical update on the AREA OFF-3 block, located offshore Uruguay, at the Business Exploration Opportunity Summit (BEOS) in London on March 5, 2025. Mr. Randolph Hiscock, the Managing Director of Uruguay operations, will present insights into the company’s technical work program, with relevant materials accessible on their website, www.cepgplc.com.
The technical program for AREA OFF-3 is advancing, with 1,250 km² of seismic data undergoing full depth reprocessing, nearing completion. Preliminary results are showcasing improved imaging quality and data accuracy, paving the way for further seismic interpretation and analysis once the final data is available.
Concurrent to reprocessing efforts, Challenger Energy has reviewed the existing 3D dataset for AREA OFF-3. This analysis has yielded several leads and viable prospects, presenting new play concepts that warrant exploration after the completion of the seismic data reprocessing.
Moreover, the company has undertaken several complementary technical studies, including a satellite seeps and slick study, a geochemical seabed survey, and a multibeam echosounder seabed survey. Collectively, these studies support the potential existence of numerous working petroleum systems within the license area and have identified several key areas for attention following the seismic data reprocessing.
Challenger Energy’s strategy includes seeking a partner for the AREA OFF-3 block through a formal farmout process, anticipated in the latter half of 2025. Further technical and commercial updates will be disseminated as necessary.
In conclusion, Challenger Energy is making significant progress with its AREA OFF-3 block offshore Uruguay, as evidenced by the ongoing seismic data reprocessing and the evaluation of pre-existing datasets. The company anticipates a meaningful update at the BEOS conference, furthering its exploration and potential collaboration strategies. The forthcoming reprocessed data is expected to enhance the understanding of the geological framework, relevant for future development efforts.
Original Source: www.energy-pedia.com
