AlwaysFree: Spain’s Repsol Restarts Yme Oil Field After Two Decades

Spanish energy firm Repsol said it had restarted oil production at Yme field in Norway on Monday. Norway’s Equinor abandoned the field in 2001 after just six years of production due to low oil prices, while Canada’s Talisman Energy later dropped an attempt to restart the field over technical problems. Repsol, which acquired Talisman in 2015, managed to bring it back on-stream by applying new technologies. Repsol and its partners aim to pump about 63 million barrels of extra recoverable oil reserves, with plateau output estimated at 56,000 boepd. The Spanish company owns a 55% stake and the operatorship of Yme. Other stakeholders are Poland’s Lotos (20%), Norway’s OKEA (15%) and Kuwait’s KUFPEC (10%).