Bloomberg News

Repsol, RWE Dea Sign Contracts for Concession Off Algarve Coast

October 21, 2011

Oct. 21 (Bloomberg) -- Repsol YPF SA, Spain’s biggest oil company, and RWE Dea AG of Germany signed concession contracts with the Portuguese government for surveying and exploration rights in the Lagosta and Lagostim areas off the Algarve coast in southern Portugal.

Madrid-based Repsol is the operating company, the Portuguese Economy Ministry said today in an e-mailed statement. The companies are due to start working in the area in 2012.

To contact the editor responsible for this story: Joao Lima at jlima1@bloomberg.net


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