Challenger Energy Group (LON:CEG) CEO Eytan Uliel joins DirectorsTalk Interviews to discuss the company’s recent developments and strategic moves in offshore operations.
Eytan highlights the signing of a significant farm-in agreement with Chevron, emphasising the deal’s structure which not only brings substantial upfront payment to Challenger but also covers seismic exploration costs, expediting the development process. Eytan explains the industry’s growing interest in Uruguay due to significant oil discoveries in Namibia, drawing geological parallels that enhance the prospectivity of the region. The CEO also contrasts the characteristics and strategic approaches between the company’s Area Off 1 and Area Off 3 licenses. For Area Off 3, Challenger plans to fast-track to drilling, leveraging existing seismic data. Eytan shares how Challenger successfully secured its positions amidst major oil companies, crediting timing, technical competence, and strategic foresight.
Challenger Energy Group is a full-cycle Caribbean and Atlantic, margin focused exploration and production business.
