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Portuguese oil-and-gas company Partex is negotiating with Spanish Repsol about gas exploration in Portugal's southern region of Algarve

Published on Sept. 20, 2012

 
Portuguese oil-and-gas company Partex is negotiating with Spanish Repsol about gas exploration in Portugal's southern region of Algarve

After the departure of German RWE, Repsol is the only holder of the blocks 13 and 14. The first change in the shareholder structure of the concessions of blocks 13 and 14, located at about 50 kilometers from the eastern coast of the Algarve, occurred early this year, when the Repsol acquired a participation of 30% of the German multinational company RWE Energy.
The Director of oil-and-gas Spanish company , Mr.Max Torres, said to Economic Daily that the was looking for new partners to share the risks and investments.
Actually, the Partex is negotiating with Repsol the entry in exploration and exploitation of natural gas in Algarve , some source close to the process ensures that negotiations are in the advanced phase.
The project in Algarve - exploration and production of natural gas - represents financial effort of about 83 million dollars (66 million euros).

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