BP (BP -0.5%) signs production sharing contracts for three deep-water exploration blocks off...

|About: BP p.l.c. (BP)|By:, SA News Editor

BP (BP -0.5%) signs production sharing contracts for three deep-water exploration blocks off Uruguay’s coast after winning the contracts in the country’s second offshore licensing round in March. BP says it will own 100% of the licenses, while state oil company Ancap will have the right to as much as 30% of output if oil is found.