NEWS BULLETIN

September 21, 2007 --- Vol. 13, No. 82September 2007

Repsol partners with Eni, Shell offshore North Slope

Newswire reports out of Europe today say Spanish oil and gas major Repsol YPF has joined Shell and Eni in exploration prospects offshore Alaska’s North Slope.

Shell and Eni exchanged working interests in 64 outer continental shelf leases offshore northern Alaska last November. The leases are in the federal waters of the Beaufort Sea north of the Oooguruk, Kuparuk Nikaitchuq, Northstar and Kuparuk units, extending east to mid-way above the Prudhoe Bay unit.

Eni said the 64 blocks would be 60 percent owned by Eni Petroleum and 40 percent owned by Shell.

The wire service reports said Repsol would have 20 percent and Eni and Shell 40 percent each, so Repsol has evidently acquired its share from Eni.

See complete story in the Sept. 30 issue of Petroleum News.


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