Link Securities | The Spanish oil company has cancelled the sale of its Norwegian business, so the firm discards an operation that was valued at approximately $1,000 million after six months looking for a buyer, according to Reuters.
The sources consulted by the British agency assure that the firm is now focused on selling other assets, while it plans to merge its operations in the North Sea with NEO Energy. The company is also studying the sale of a minority stake in its renewable energy business to the state-owned oil company Saudi Aramco.
To date, Repsol has been working with investment bank Rothschild to complete the sale of 10 assets located on the continental shelf in Norway, which consists of seven producing fields with net reserves of 53 million barrels of oil equivalent per day (36% of them gas) and a net production in 2024 of 29 million barrels of oil per day (mbped).
