Spanish energy major Repsol has made a major strategic move in the US Gulf of Mexico by agreeing to a dramatic increase in its interest in the large Blacktip deep-water oil discovery.

Repsol will now hold a 50% share of the Blacktip and Blacktip North discoveries in Alaminos Canyon Block 380 and 336, and be partnered by the operator Llog Exploration, also on 50%.