YPF group wins a bid for offshore Uruguay exploration

URUGUAY - YPF SA has won a bid to explore for oil in offshore blocks near the coast of Uruguay, the company said in a statement yesterday. YPF will have a 40% stake in the exploration, sharing the other 40% with Petrobras Uruguay, a unit of the Brazilian oil giant Petroleo Brasileiro SA and Portugal’s GALP, which will hold a 20% share. YPF will operate the deepwater exploration block 3 while Petrobras will operate the shallow water exploration block 4, both located along the coast of Punta del Este.

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