Spanish oil company Repsol is working on securing more deals in its renewables operations in Spain and the United States as it seeks a solution for its North Sea exploration and production business, CEO Josu Jon Imaz said Thursday.

Repsol's strategy has focused on selling minority stakes in renewables projects to help finance the expansion of green energy and biofuels capacity, while focusing its exploration and production business in key markets such as the United States.

The company expects the divestment of stakes in renewable projects in the United States and Spain, with an overall impact on its debt of about 1.4 billion euros ($1.52 billion), to close by the end of the year or early next year, the CEO told analysts on a call following the company's quarterly results.

This includes the 637 megawatt (MW) Frye Solar project in Texas and two solar plants in New Mexico with a total capacity of 125 MW, he said, as well as two Spanish green asset portfolios of between 400 MW and 500 MW each.

"The only operation we had in hand a few months ago that we canceled was Norway," Imaz said. He said the company wanted a more "holistic solution for the entire North Sea, including the UK."

Repsol's UK North Sea business has interests in 48 offshore fields, of which it exploits 38, according to its website.

Earlier this year, Repsol cancelled the sale of the Norwegian business, which has oil and gas producing fields on the Norwegian continental shelf.

Imaz gave no further details.

(1 dollar = 0.9205 euros)

(Information by Pietro Lombardi; edited by Inti Landauro and Jane Merriman; edited in Spanish by Javi West Larrañaga)