Repsol has reached an agreement to sell your 24% participation in the corridor gas block, located in Indonesiato the local company Medco Energi, current operator of the asset. The operation, valued at 425 million dollarsis part of the group’s asset rotation strategy, aimed at improving the return on the capital employed and the strengthening of the operating cash flow.
Disinversion allows Repsol to advance the optimization of its exploration and production portfolio (UPSTREAM), prioritizing investments in Core assets that offer greater profitability and long -term sustainability. The funds obtained will contribute to finance the current organic investment cycle in UPSTREAM, preserving the size and competitiveness of the business in the medium and long term.
From the financial point of view, The transaction will have an estimated positive impact of approximately 70 million dollars in the income statement 2025y It will reduce the net debt of the group around 350 million dollars. These figures are subject to the usual adjustments depending on the definitive closure and the transfer of the assets.
The Corridor block, located on the mainland on the island of Sumatra, is an active natural gas producer. In 2024, he contributed about 19,000 equivalent barrels of oil per day to Repsol, representing approximately 3% of its total production, and added 26 million equivalent barrels of oil to its reserves, equivalent to 2% of the total group.
With this operation, Medco Energi, which already has 46% and operates the block, will raise its participation in the asset, while the state -owned Indonesia shakes maintains the remaining 30%. The closure of the transaction is expected to occur in the third quarter of 2025, subject to the relevant regulatory approvals.