Multiclient speculative agreements are those in which service companies (primarily seismic and geophysical data providers) invest at their own risk in acquiring data and/or generating information that can potentially be licensed to several oil companies.
ANCAP has actively leveraged this type of agreement with several leading service providers in the oil and gas industry, including Robertson, CGG, ION, PGS, Spectrum, Schlumberger, TGS, AGI, EMGS, and ABI Holdings Limited, among others. These collaborations have brought significant benefits to ANCAP, including increased revenues, the generation of valuable new exploratory data, and the continuous promotion of Uruguay’s exploration opportunities.
In recent years, the number of contracts signed between ANCAP and service companies has grown considerably, under increasingly favorable conditions for ANCAP.
A key feature of these agreements is their non-exclusive nature: all risks and costs associated with data acquisition and/or information generation are borne solely by the service company. ANCAP retains ownership of the data and information and receives a share of the revenue generated from data licenses. In exchange, the service company has the exclusive right to market the data and/or information for a given period.
Moreover, these service companies possess highly skilled marketing teams and strong promotional capabilities. This not only enhances their own commercial success but also adds value for ANCAP, as their global promotion of data simultaneously promotes Uruguay’s exploration potential.
In summary, multiclient agreements have proven to be a powerful tool for ANCAP, enabling a substantial expansion of geological data for Uruguay’s sedimentary basins, while generating revenue and driving worldwide promotion of exploratory opportunities in Uruguay.
Key information on the current multiclient contracts can be accessed by clicking here.
