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Tuesday, 07 October, 2008, 19:50 GMT | more prices >>

Spanish pair take plunge in Angola



By Upstream staff 

Spanish companies Gas Natural and Repsol YPF have taken a joint 20% stake in a consortium formed to explore for gas in Angola.

The consortium also includes Italy's Eni (20%) Portugal's Galp Energia (10%), EXEM (10%) and Angolan state energy company Sonangol, with 40%.

Work will begin in the first quarter of next year on evaluating the gas reserves, and this study will decide the necessary investment to develop the reserves, which will be exported as liquefied natural gas, a Reuters report said.

Repsol and Gas Natural signed an agreement with Angola last June designed to develop projects in the African country.


Wednesday, 05 December, 2007, 10:39 GMT  | last updated: Wednesday, 05 December, 2007, 10:39 GMT

In the ring: Gas Natural and Repsol are heading to Angola
 

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