On Friday, Repsol announced that it had reached an agreement to sell its oil and gas assets in Colombia to GeoPark for $530 million.
The Spanish energy company says the transaction involves the sale of 100% of the capital of its subsidiary Repsol Colombia Oil & Gas, which owns 45% of the CPO-9 block in central Colombia.
The transaction also involves Repsol's 25% stake in SierraCol Energy Arauca, the operator of the Llanos Norte field.
According to Repsol, the sale of these two assets - which represent a cumulative production of 16,000 barrels of oil equivalent per day from its own operations - is part of the company's asset rotation strategy.
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Repsol S.A. is one of the largest oil and gas groups in Spain. The activity is organized into four sectors:
- refining and distribution (No. 1 in Spain): 42.1 million tons of crude oil refined in 2023 and 26 million tons of oil products sold (kerosene, gasoline, fuel oil, gas liquefied petroleum gas, etc.). At the end of 2023, the group operated 6 refineries located in Spain (5) and Peru and a network of 4,524 service stations located in Spain (3,275), Peru (525), Portugal (517) and Mexico (207). Repsol S.A. also sells lubricants, aviation fuels, bitumen and specialty products (7,715 Kt sold in 2023), liquefied petroleum gas (1,192 Kt sold) and petrochemicals (1.9 Mt of products sold);
- production of electricity and distribution of natural gas: 8,718 GWh of electricity generated from renewable energy and 1,560 GWh of gas sold in 2023;
- liquefaction, transportation and regasification of natural gas;
- exploration and production of oil and natural gas: 599,000 barrels of hydrocarbons produced per day in 2023.
Net sales are distributed geographically as follows: Spain (56.8%), Peru (7.8%), the United States (6%), Portugal (5.2%) and other (24.2%).
REPSOL S.A. 
