Spanish firm to explore for oil in AlaskaMarch 8th, 2011 - 11:57 am ICT by IANS
Madrid, March 8 (IANS/EFE) Spanish energy group Repsol will invest $768 million to explore for oil in Alaska.
Alaska’s oil-rich North Slope was an “especially promising area for Repsol”, the Spanish giant said. It will work in a joint venture with two American companies. Repsol will have a 70 percent working stake in the project.
The exploration will focus on several blocks with a total expanse of 2,000 square km.
Repsol has had success with exploration in US waters of the Gulf of Mexico.
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