EPSA is an integrated energy company operating at each stage of the oil value chain, with more than 11.000 employees worldwide. Amongst its core activities, CEPSA is engaged in petroleum and natural gas exploration and production, with interest in several blocks across four countries: Spain, Algeria, Colombia and Peru.
Our main focus for the near future will be on strengthening our position in the sector, and we therefore intend to reinforce our presence in new geographical areas with high development potential, with the aim of achieving a significant increase in net entitlement reserves.
For the development of the company into a major contender in the sector, we are strengthened by the contribution of IPIC (Abu Dhabi International Petroleum Investment Company), which in 2011 became the sole shareholder of Cepsa. For that purpose, our key strategic drivers are a high level of integration and solid international growth, based on the development in the Upstream business and international expansion in petrochemicals.
Abu Dhabi state investor Mubadala Investment Company [MUDEV.UL] is considering a partial or total sale of Spanish oil and gas company Cepsa and would use proceeds for expansion, a Mubadala spokesman told Reuters on Friday.