Friday, January 16, 2015

Spanish oil company Repsol just unsuccessful exploration in waters … – Caracol Radio

Spanish oil company Repsol just unsuccessful exploration in waters … – Caracol Radio

Madrid, Jan 16 (EFE) .- The Spanish oil company Repsol announced today that it has finished the polls that began in the waters of the Canary Islands in November and the resources found in the area, both gas and oil, not be removed due to its low quantity and quality.

“The analysis of the samples obtained in the survey called Watermelon confirms the existence of gas-from methane to hexane without the volume or quality sufficient to consider a future removal, “the company said in a statement.

The exploratory survey confirmed that in the basement of the basin were generated oil and gas, although found warehouses are waterlogged and existing hydrocarbon unexploitable in very thin layers, added.

The surveys were carried out east coasts of the islands of Lanzarote and Fuerteventura, which are closest to the coast of Morocco.

The initiative was the rejection of the Canary regional government and environmental groups, which pointed the possible environmental and tourism that could have those surveys risk.

Meanwhile, the company defended its plan because believed it could find enough oil reserves to meet ten percent of oil consumption in Spain.

The Spanish company had obtained in 2001 the first permits to explore possible oil discoveries in the seabed of the islands, but the Spanish Supreme Court has overturned at first because they did not observe the environmental standards required by law.

In 2012, the government of Mariano Rajoy gave license to oil drilling in the area if taking adequate to meet the process of environmental impact measures.

The new resources presented below by environmental groups and the Executive of the region Canary Islands were settled in June this year by the Spanish Supreme Court, which ruled in favor of oil exploration.

According to sources in Repsol, no additional research activities will be conducted in this area and the ship dynamic positioning Rowan Renaissance return to Angola to continue the exploration program hydrocarbons the company makes in the country.

From the start of work, estimated oil for themselves a chance of exploration success between 15% and 20%, recalls the company’s statement, which ensures that the survey was “considering a possible finding significant benefits for the Spanish economy.”

The company explains that the January 11 total depth of 3,093 meters (882 meters to be reached water surface and subsurface 2211 meters) and has completed data collection of geological formations traversed.

During the next week, the work of sealing the well will be made. EFE

atm / mdo / mcmo / jgb / RML

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