The Spanish major was forced to move beyondits traditional onshore sphere in order to grow its portfolio of assets andreplace reserves.
“We’ve always said that we (would) love tokeep onshore wells,” exploration managing director Marcos Mozetic told analystsat a company presentation in London on Wednesday.
However, the state-run explorer felt itsgrowth was being limited by its concentration on onshore exploration, and somoved out into the deep-water arena some years ago.
“We
