Spanish energy giant signs deal with Iran

18th October 2004, Comments 0 comments

18 October 2004, MADRID- Spain's leading energy group Repsol YPF has signed a EUR 21.6 million deal with Iran to obtain prospecting rights in two fields over the next 30 months, the financial newspaper Expansion reported on Monday.

18 October 2004

MADRID- Spain's leading energy group Repsol YPF has signed a EUR 21.6 million deal with Iran to obtain prospecting rights in two fields over the next 30 months, the financial newspaper Expansion reported on Monday.

A Repsol YPF spokesman refuse to comment on the report that the firm would prospect at Foruz, of Kish Island off the port of Bushir, Expansion said, adding that the contract, worth USD 27 million, could be extended by one year.

Last month, Repsol YPF and Anglo-Dutch giant Shell signed a framework deal with Iranian state company NIOC to extract liquified natural gas in Iran.

According to El Pais newspaper that deal is worth EUR 3.25 billion (USD 4 billion) but the companies did not confirm the figure for the deal which is due to come on stream in 2010 with annual production of seven million tonnes as well as one million tonnes of liquefied gas petroleum.

[Copyright EFE with Expatica]

Subject: Spanish news

0 Comments To This Article