Repsol sells its gas and oil assets in Colombia

News Department
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Spanish company Repsol has announced the sale of its gas and oil assets in Colombia.

According to Report, citing Spanish media, the agreement reached with GeoPark is valued at $530 million and is part of the oil company's asset rotation strategy.

The deal includes GeoPark's acquisition of 100% of Repsol Colombia O&G Limited and 25% of shares in SierraCol Energy Arauca.

According to company estimates, with the received funds, this operation will reduce Repsol's net debt by approximately $500 million.

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