This document summarizes information about Uruguay Round 3 licensing opportunities for offshore oil and gas exploration. Key details include: 17 exploration blocks ranging from 2,500-6,500 sq km will be offered in shallow, deep, and ultra-deep waters; extensive 2D and 3D seismic data has been acquired between 2012-2015 and is available through multi-client agreements; the world record deepest water well is planned to spud in March 2016 at 3,411m water depth; and the bidding round terms and production sharing contract model are now finalized and available online.