1999 HIGHLIGHTS

Strategic Areas

  • The completion of a fast and efficient integration between Repsol and YPF.  

  • A 25% reduction of the company�s finding cost, relative to the 1998 " pro forma " level taking it to 1.26 US$/Boe.  

  • A reduction of lifting costs by 4.6%, taking it to 2.40% US$/Boe.  

  • A reserve replacement rate of over 200%, with the addition of 784 MMBoe, including discoveries, extensions and improvements, as opposed to the 380 MMBoe produced.  

  • Strengthening of the Repsol YPF presence in areas such as Argentina, Algeria, Bolivia, Egypt and Libya where the company has a high potential mineral property, with a low lifting cost and close to our consumer markets.