Repsol

E&P Strategy

The exploration and production area (Upstream) at Repsol manages its project portfolio with a view to achieving profitable, diversified and sustainable growth with a commitment to safety and the environment.

The pillars of its strategy are to increase production and reserves, the geographic diversification of activity with increased presence in OECD countries, operational excellence and maximising the profitability of assets.  

Over recent years, successful investments have been made in human capital to encourage growth, and an organisational structure has been defined that is suited to our strategic objectives and focused on operational quality. Technical and commercial processes have also been redesigned and standardised, and technological capacities have been developed to ensure successful operation in deep sea areas.

From a geographical perspective, the area of Upstream (exploration and production) focuses its strategy both on traditional key areas, located in Latin America (Trinidad and Tobago, Peru, Venezuela, Bolivia, Colombia and Ecuador, essentially) and Northern Africa (Algeria and Libya).

Most significant among these strategic areas are the US Gulf of Mexico (with the important Shenzi field, which has been in production since 2009, one of the company's leading strategic projects) and offshore Brazil.

Medium-term strategic growth will be reinforced with the important gas products being developed in Venezuela, Peru, Bolivia and Brazil, and in the longer term, with the portfolio of assets being consolidated in Norway, Canada, Western Africa, Indonesia, Alaska and Russia.

As part of the geographical diversification strategy defined, in 2011 we must highlight entering areas of high exploratory potential in  Alaska, Angola, Russia, Ireland, Iraq, Tunisia and Portugal. 

The company is fulfilling its commitments and the next growth stage is coming together, mainly based on its successful exploration campaigns, which are creating value for its shareholders. 

Related links:

• Geographical Distribution
• Key factors for growth 
  
  

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