Repsol Operations in Egypt
According to the company website Repsol is present in Egypt through the Union Fenosa Gas (UFG) company, which has a majority share in SEGAS, the owner of the liquefied natural gas (LNG) plant at Damietta. Repsol distributes some of the UFG-produced gas in Spain; as of mid 2012 Repsol was not a shareholder in UFG, however, and it was unclear whether its involvement with the company went beyond gas distribution.
Repsol historically had a larger presence in Egypt through its interests in seven concessions in the Western Desert; but US company Apache acquired nearly all of Repsol's concessions in a US$410 million deal in January 2001, as Repsol shifted its attention to activities in South America. Repsol retained its 33 percent contractor interest in the deep-water portion of the West Mediterranean Concession. An October 2012 New York Times article indicted that Repsol remained a joint venture partner of the Egyptian General Petroleum Corporation (EGPC); as of mid 2013 though it remained unclear which concession this venture was for and whether Repsol's activity in Egypt extended beyond that.
- "Repsol in Egypt", Repsol, retrieved 12 June 2013.
- "Annual Report 2011", Repsol, retrieved 12 June 2013.
- "Apache to Acquire Repsol's Egypt Interests for US$410 Million; A 'Step Change' for Apache's Already Formidable Operations in Egypt", PR Newswire, retrieved 12 June 2013.
- "Egypt Struggles to Pay Oil Bill", New York Times, 3 October 2012.