Repsol activities in: Argentina Bolivia Brazil

Mexico 2007

At 31 December 2007, Repsol YPF held mineral rights over a development block (Reynosa-Monterrey) with an area of 3,538 km2.

In 2004, Repsol YPF took charge of operating the Multiple Services Contract for the development and exploitation of the Reynosa-Monterrey block in the Burgos basin in the north of the country. This area features 16 gas fields that have already been discovered and are either in exploitation or yet to be exploited and in which the aim is to substantially increase their production through additional development investment. This contract was awarded in 2003 as part of the first international tendering held by the Mexican national company (PEMEX) for shares in development and production activities in the country's gas fields. With this contract, Repsol YPF became the first international company to participate in hydrocarbon development and exploitation activities in Mexico. When Repsol YPF took charge of the operation in March 2004, production was 10.5 Mscfd, by the end of that year a production level of 18.2 Mscfd was reached, and at the end of 2005, production had reached 40.2 Mscfd. Average production in 2006 was 37.8 Mscfd. Production in the block in 2007 was 50.3 Mscfd, that is, five times higher than it was when Repsol took charge of operations in 2004. It is expected that a production level of 60 Mscfd will be reached in the mid term.

In the four years that Repsol has been operating the Contract area a total of 57 wells have been drilled, at an average depth of 2,900 metres, 750 km2 of 3D seismic and 135 km of pipes have been acquired and 44 km of access paths constructed.