Junta General de Accionistas de Repsol YPF

Press Release 31/05/2005 07:00
  • Upstream to be driver behind companys growth
  • Downstream to be stable cash-flow generator
  • Portfolio to be transformed via investments and divestments
  • Total investments to surpass 21,000 million euros
  • Investments to be concentrated in North Africa, Caribbean, Atlantic Basin and Middle East
  • In Argentina new opportunities will be taken advantage of in the area of exploration of offshore blocks, and competitive advantages in refining and marketing
  • Divestment of 1,500 million euros in non-strategic areas and businesses
  • Intensify exploratory activity drilling 200 new wells
  • Reserves in North Africa to grow by 170%
  • 1,200 million euros in cost savings
  • Strategic alliance with Gas Natural to have cost savings of 10 million euros/year
  • ROACE to be 12%