Spanish energy group Repsol expects to boost its upstream oil and gas output by 11% in 2023 from an eight-year low in 2022, owing to an uptick in its US unconventional production, CEO Josu Jon Imaz said Feb. 16. With year-to-date production already having reached 590,000 b/d of oil equivalent, the company is targeting 610,000 boe/d in 2023, Imaz said. The rise has been principally due to output from new wells in the company's unconventional US business, as well as increased volumes in Trinidad & Tobago, and greater uptime elsewhere, he told analysts.
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