Wednesday, February 27, 2008; Posted: 01:34 PM
Chairman Antoni Brufau has already flagged planned annual investments of 5-6 bln eur for organic growth in the next five years.
Ahorro Corporacion analysts said exploration and production is currently Repsol's "black sheep," flagging the low level of proven reserves and the decline in hydrocarbons production.
One of the biggest challenges for the oil and gas group is to speed up the replacement of its reserves and diversify its operations outside of Latin America.
An update on the divestment plans for its Argentine unit YPF SA will also be on the agenda, following the recent sale of 15 pct, with an option on a further 10 pct, to Petersen Energy for 2.235 bln eur.
A listing of around 20 pct is expected later this year, with Repsol eventually retaining a 55 pct stake.
The sale to Petersen has given YPF's assets visibility, analysts said, but noted that investors will be looking for comments from Repsol management on the impact of the Argentine oil sector's regulatory framework on YPF's results and investments.
Full-year results and the strategic plan will be released before the market opens tomorrow, followed by an 11.00 am presentation to analysts and a news conference at 2.00 pm.
According to 28 analysts polled by Thomson Financal News, net profit for the full-year to December is forecast at 2.189-3.513 bln eur compared to 3.092 bln a year earlier.
tfn.europemadrid@thomson.com kd1/tr/ped/slj
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