The Guaraní Aquifer is a natural reservoir of fresh water whose surface spreads beyond the borders of four countries: Argentina, Brazil, Paraguay and Uruguay. It is said that it represents 20% of the world’s freshwater reserves. In February 2012, ANCAP (The National Fuel, Alcohol and Portland Administration) granted US based Schuepbach Energy two contracts for hydrocarbon exploration and exploitation in the Piedra Sola and Salto concessions in Uruguay’s north basin. A few months later, the Australian oil company Petrel Energy bought 25% of Schuepbach Energy, increasing its stake to 51% one year after. According to Petrel’s, both concessions have a potential for unconventional (fracking) and conventional oil exploitation.