ANCAP, the national oil company of Uruguay, signed offshore E&P contracts with English oil companies BG and BP, the French Total and the Irish Tullow Oil.

The announcement was made in a press conference headed by the Energy Minister Roberto Kreimerman and Raul Sendic, President of ANCAP.

The Energy Minister said that the agreements are the most relevant milestone of the last years in Uruguay, and shows the success of the Uruguayan energy policy and the ANCAP policy in search of indigenous resources.

The Ancap’s President Raul Sendic said the signing of the contracts means a “historic day” for Uruguay and the national oil company.

The companies were awarded the blocks on last April in a transparent but very fast decision process. Each English company won three oil blocks and one each for Total and Tullow Oil. The blocks are located in waters between 500 and 2500 meters depth.

Tags: ANCAP