Repsol YPF to Invest $130M in Gulf of Mexico Oil Field
Posted: 04 July 2005
Spanish-Argentine oil and energy company Repsol will invest $130 million in the Neptune oil and gas field off the coast of Louisiana in the Gulf of Mexico.
The Neptune field is being developed by a consortium of companies including Repsol YPF unit Maxus Exploration, BHP Billiton Ltd (BHP), Marathon Oil Corp. (MRO) and Woodside Energy Inc., a subsidiary of Woodside Petroleum Ltd. (WPL.AU).
The consortium estimates total development costs for the Neptune Field to be around $850 million and that its recoverable reserves are in the range of 100 million to 150 million barrels of oil equivalent.
First oil is expected by the end of 2007.
Posted by Editor Pipeline Magazine
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