repsol announces new gas find in peru
Last Updated : GMT 04:22:55
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Repsol announces new gas find in Peru

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Arab Today, arab today Repsol announces new gas find in Peru

Madrid - AFP

Spanish petroleum giant Repsol said Thursday it had made a new gas discovery in Peru through its partnership with Brazilian oil major Petrobras. \"Preliminary estimations indicate the field may hold between 1 and 2 trillion cubic feet of gas resources,\" the equivalent of around 14 months of gas consumption in Spain, Repsol said in a statement. The discovery pertained to Peru\'s block 57, which Repsol operates with a 53.84 percent stake, while Petrobras holds the remaining 46.16 percent. Repsol shares on the Madrid stock exchange rose 3.12 percent to 15.2 euros at 1122 GMT following the announcement, in a market up by 1.53 percent. Repsol said it planned to carry out further exploration in the block.

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