ENARW - North of Africa 

Egypt & Gabon

Net proved reserves in Egypt total 58.2 million barrels of oil equivalent, with a net daily production of 26,592 barrels of oil equivalent. In 1999 investments totaled 116 million Euros, 108 million in development activities and 8 million in exploration activities. During 1999, Repsol YPF and the other members of the Khalda Group, made up by Repsol YPF (50% operator), Apache (40%) and Novus (10%) signed a sales contract with Nacional EGPC company. The project consists in the construction of two plants of gas, Salam and Tarek, and a gas pipeline across the western desert. In July, production began in the Salam gas plant in the Khalda Concession, located in the Egyptian western desert. This plant is part of the important gas development project started in June 1997 which has been successfully completed on time and within budget. The above mentioned plant is designed to process more than 5.6 million cubic meters per day, and is linked to the future Tarek plant, whose start up is scheduled for the near future and which is designed for a flow rate of almost 3 million additional cubic meters of gas per day.

Repsol YPF also has interests in Gabon with about 854,000 barrels of net reserves in three " offshore " fields: Pelican, Hylia and Vanneau.