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Repsol Offered Compensation For Seized Argentine Assets

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December 4, 2013

Repsol SA, the oil producer whose YPF unit was seized by Argentina’s government last year, will get US$5 billion of 10-year bonds as compensation for its mammoth oil find two years ago, a person briefed on the proposal said.

Repsol’s biggest ever oil discovery was made in Argentina’s Neuquén province, one of the world’s largest non-conventional reservoirs.

The agreement to pay the bonds, denominated in dollars and guaranteed by the government, will end the legal dispute between Madrid-based Repsol and Argentina, the person said, asking not to be identified before ...

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