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Repsol sells its gas and oil assets in Colombia
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- 29 November, 2024
- 14:37
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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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