Challenger CEO Eytan Uliel
Challenger advances in Uruguay’s frontier
The UK-listed junior’s strategy is maturing prospects and then bringing on board bigger partners to continue development
Challenger Energy has begun a farm-out process for a second licence in Uruguay’s offshore frontier zone after successfully farming out its first to Chevron late last year. While Uruguay remains the core focus, the UK-listed junior is also exploring potential opportunities elsewhere along the Atlantic Margin basin in South America and West Africa, CEO Eytan Uliel told Petroleum Economist. “We do what little oil companies do best,” Uliel said. “We get in early, do the initial work and prove up to the point that we establish materiality. Then we look to bring in a larger partner.” “The Namibia discoveries effectively de-risked the play concepts in Uruguay” Uliel, Challenger The company
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.
