Spain’s Repsol SA hopes to take a final investment decision (FID) to develop a recently announced oil and gas discovery offshore Mexico within the next two years, according to CEO Josu Jon Imaz San Miguel.
Imaz recently hosted a conference call to discuss second quarter earnings for the Madrid-based integrated energy firm. Repsol operates throughout the world, with core upstream assets in North and South America, Europe and Africa.
In early July, Repsol and joint venture partner Eni SpA announced a discovery at the Yopaat-1 EXP exploration well in Block 9 of the Cuenca Salina in the Sureste Basin. The discovery could hold 300-400 million boe of recoverable hydrocarbons, according to the firms. Eni operates the block with a 50% stake, while Repsol controls the remaining 50%.
