The company reached an agreement with Petroleos de Venezuela to acquire 40% of the La Ceiba and Tomoporo oil fields, with a production capacity of 20,000 barrels per day.
Repsol bought 40% of the La Ceiba and Toboboro oil fields for 1.5 billion euros through an agreement concluded with Petroleos de Venezuela, with the aim of the Spanish company doubling its crude oil production in the Petroqueriquire region. The Economista says:
The two fields will have the capacity to produce 20,000 barrels of oil per day.
Josue John Imaz, CEO of Repsol, points out that the company currently operates in 13 countries, but feels comfortable reducing its presence to between nine and ten, which means selling investment portfolios in three or four regions just one year before having to conduct a process. buying. A decision on a future initial public offering of exploration and production businesses in the United States.
The company's CEO confirmed that they have extensive experience in selling oil assets, recalling that Repsol has already left countries such as Australia, Papua New Guinea, Romania, Greece and Russia.
The company estimates the process of recycling assets in the United States of America and Spain at one billion euros, in addition to between 500 and 600 million euros in divestment operations. 80% of the latter will correspond to excavation.
The company is also expected to decide within the next two months whether to exercise the call option it holds on Hecate Energy in North America. Repsol currently owns 40%, but may increase its share.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
