Spanish energy company Repsol is considering various proposals related to the oil exploration and production business, which the company believes to be strategic and in need of support and consolidation in the long term, the company stated in a press release.
To date, Repsol has not made any decision on this matter. The press release publication follows media reports regarding talks between EIG Global Energy Partners and Repsol to acquire a 25% stake in the oil and gas exploration and production business.
Repsol is interested in receiving funds to implement plans for producing clean energy through the construction of solar and wind farms.
Analysts estimate that Repsol’s oil and gas business is worth between 14 and 18 billion euros ($15-19 billion), including debt.
However, negotiations can take a long time and do not guarantee a final agreement.
EIG Global Energy Partners is a private equity firm based in Washington DC. EIG specializes in private equity investments in companies operating in the energy, oil and gas, midsize business and power generation sectors.
Repsol is the largest oil and gas company in Spain and one of the largest in Latin America. The company is developing fields in North America, Bolivia, Colombia, Venezuela, Trinidad and Tobago, Brazil and Libya.
In January, Repsol sold its remaining stakes in the Russian exploration business, including assets in Gazprom Neft, ridding itself of potential asset write-downs due to the conflict between Ukraine and Russia.