BP Buys 40% Stake in Uzbek Oil and Gas Blocks

BP has bought 40% in the production sharing agreement regulating oil and gas exploration and production rights for six blocks in Uzbekistan, setting foot in the Central Asian country as it continues to seek profitable opportunities to boost its oil and gas business.   BP has acquired a total 40% participating interest in the production sharing agreement (PSA) – 20% from each of the existing partners, Azerbaijan’s state energy firm SOCAR and Uzbekistan’s national firm Uzbekneftegaz, the UK superm...