Repsol Expands Footprint in Russia Through Venture With Alliance

摘要

Spanish major Repsol YPF has teamedup with midsize Russian independent Al-liance Oil to form an exploration and pro-duction joint venture intended as a“growth platform” in Russia for bothcompanies.Repsol, which already owns 3.47% of46,000 barrel per day producer Allianceafter the latter merged with West SiberianResources in 2008, signed a nonbindingmemorandum of understanding to take a49% share in the joint venture, with Al-liance to retain 51%.