Repsol

Fundación Repsol has created an investment fund through which it will develop social enterprises to contribute to energy transition and generate professional opportunities for vulnerable groups. The fund will allocate €50 million to the development of enterprises with a distinctively social profile.

The pact, which builds on the firms’ current partnership on the Buckskin project, covers four Keathley Canyon blocks including the Leon and Moccasin discoveries.

The explorer has so far encountered 400 ft of reservoir pay zone in an area where it has three other producing fields.

Conventional oil and gas discovered resources in 2019 are on pace to rise 30% from last year and reach their highest level since the beginning of the industry downturn. Here, a recap of the first quarter's 15 biggest oil and gas discoveries, which altogether are propelling the increase.

Colombia now counts Repsol, ExxonMobil, Shell, and Noble Energy as companies committed to exploration in its portion of the Caribbean Sea.

The 15-year deal calls for 1 million tons of LNG to be shipped each year to the Iberian Peninsula. Final investment decision on the project is expected in the second half of 2019, with the first liquefaction train scheduled to start up in 2023.

The Spanish E&P company plans to invest more than $11 million by the end of 2018 on startups working in established priority areas, which include resource reuse and sustainability measures.

As part of a revised strategic plan, the Spanish company says it will invest more than $9 billion on its overall operations by 2020, with much of it going to its upstream business unit.

The Buchan Alpha ended production on 12 May in the UK North Sea. The semisubmersible moored floating production facility will be decommissioned by Veolia at its Dales Voe site in Lerwick, Shetland.