Challenger's operations in Trinidad
Challenger banks on Uruguayan frontier
The independent is poised to benefit from the new wave of interest in Uruguayan acreage
Uruguay has “all of the technical merits but none of the issues”, says Eytan Uliel, CEO of AIM-listed independent Challenger Energy. The frontier country “has, in a short space of time, become a focal point of the whole business”, Uliel says, adding there is significant potential for “value uplift” there. Challenger was the only applicant when it opted to bid for a Uruguayan licence in May 2020, but the block “was very big, offshore and in shallow water”, with historic, 2D seismic data available. “No one had really paid much attention to it” he adds. It was two years before Uruguay’s president formally approved the licence—which therefore started in August this year—but during that time the
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
