Natural Gas
In America, Repsol YPF undertakes the distribution and commercialisation of natural gas in Argentina, Colombia, Brazil and Mexico.
Distribution and Commercialisation
Through Gas Natural SDG, Repsol YPF participates in the distribution of natural gas in Argentina, Colombia, Brazil and Mexico to a total of a 5.1 million customers at 31 December 2007. The group is also involved in the distribution of natural gas in six of Latin America's most important cities: Mexico DF, Monterrey, Santafe de
Bogota, Buenos Aires, Rio de Janeiro and Sao Paulo. In general, the prices paid by end consumers are regulated. A market of "qualified" industrial clients also exists in Argentina and Mexico where they can select their supplier freely once they reach a certain minimum level of consumption.
In Colombia, the company distributes in Bogota, the Cundi-Boyacense area and the country's eastern region, to a total of approximately 1.8 million customers.
Cuba 2007
Exploration
At 31 December 2007, Repsol YPF held the mineral rights over an offshore exploration block off Cuba that includes six exploratory areas (N25/26/27/28/29/36), plus area 35, awarded to Repsol YPF at the beginning of 2005, with a net area of 4,512 km2 , all included under the same contract.
No exploratory wells were drilled in the country in 2007.
Milestones in 2007
• In September 2007 the fourth and final exploratory period began during which a survey is scheduled to be drilled. At the end of 2007 agreement was reached to extend the end of the contract to June 2009. Furthermore, it was agreed to request that the Cuban government grant a fifth exploratory period.
• In 2007 progress was made in the preparation for drilling the prospect called Jagüey, with a water surface area of almost 1,800 m. The basic engineering work, the environmental impact study and some of the product purchases and contracts for long term delivery have been completed.
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