Repsol: sells oil and gas assets in Colombia
(CercleFinance.com) - On Friday, Repsol announced that it had reached an agreement to sell its oil and gas assets in Colombia to GeoPark for $530m.
The Spanish energy company says the transaction involves the sale of 100% of the capital of its subsidiary Repsol Colombia Oil & Gas, which owns 45% of the CPO-9 block in central Colombia.
The transaction also involves Repsol's 25% stake in SierraCol Energy Arauca, the operator of the Llanos Norte field.
According to Repsol, the sale of these two assets - which represent a cumulative production of 16,000 barrels of oil equivalent per day from its own operations - is part of the company's asset rotation strategy.
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The Spanish energy company says the transaction involves the sale of 100% of the capital of its subsidiary Repsol Colombia Oil & Gas, which owns 45% of the CPO-9 block in central Colombia.
The transaction also involves Repsol's 25% stake in SierraCol Energy Arauca, the operator of the Llanos Norte field.
According to Repsol, the sale of these two assets - which represent a cumulative production of 16,000 barrels of oil equivalent per day from its own operations - is part of the company's asset rotation strategy.
Copyright (c) 2024 CercleFinance.com. All rights reserved.