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Cardon IV Block Facilities in Venezuela

Upstream

Shaping the future

Within all the activities our business comprises, upstream is where all of our operations begin. This term encompasses our oil and gas exploration, development, and production activties worldwide. 

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We work safely and responsibly using innovation and technology to decarbonize our operations and be an ally to energy security. In a carbon neutral world, hydrocarbons and the technical talent to development them will remain critical to meet the growing global demand for energy that is secure, affordable and sustainable.

Three workers consult a screen with graphics

We are explorers

Using digitaliation as a cornerstone, we have the technical expertise, technology and talent to explore the subsurface.

Repsol is an experienced explorer with decades of technical knowledge and expertise to discover and develop the energy the world needs.

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Operators in an exploration block

Development

We implement a collection system and run processing plants, and we ensure that extraction processes are sustainable, safe, and transparent even before beginning operations, in line with the most stringent standards.

Targeted investment in upstream development is crucial to tackle the energy trilemma, to drive leadership in decarbonization and to retain the technical talent needed for the energy transition.

An operator coming down the stairs of a facility

Low carbon

When the facilities are ready to begin extraction operations, our teams get to work in order to use the reservoir's resources to their full potential. In addition to extracting oil and gas, we constantly perform maintenance tasks and transport hydrocarbons under the strictest conditions.

We are applying our innovative technical capabilities to advance geological low-carbon projects, such as carbon capture and storage (CCS) and geothermal, that will prevent emissions and contribute to the decarbonization of hard-to-abate sectors such as industry.

Cardon IV block facilities in Venezuela

Decarbonization

An opportunity to build business platforms as technology evolves. Our aim; decarbonize the portfolio with the new operating model.

A control room with screens

Digitalization

Used to reduce the time it takes to start up production, increase efficiency and develop technologies that assist in each phase of an oil field's life cycle, all while ensuring that we are meeting our commitments in terms of safety and sustainability.

Carabobo block pipes

Unconventionals

Focused portfolio in core areas, with short-cycle projects, low break evens and capital flexibility, capable of generating strong cash flow. Key lever for reducing emissions through proven technology.

Chauvin well in Alberta

Portfolio management

A diverse portfolio adds value and helps to continue decarbonizing operations while ensuring profitability and growth for the company, shareholders and society.

Chauvin well facilities in alberta

Carbon capture and storage

Necessary lever to achieve the Paris Agreement commitments.
We have a strong position and experience in highest-potential basins provides a competitive advantage.

A pipeline of the Sagari project

Geothermal

Opportunity to provide 100% renewable and reliable energy with existing upstream processes and knowledge.

Repsol's Upstream

Our mission is to lead the energy transition, shaping a low carbon future while ensuring energy security through the responsible production of hydrocarbons. We are a benchmark operator in hydrocarbon exploration thanks to the use of state-of-the-art technology, which has allowed us at the forefront of some of the greatest discoveries of the last decade.

572,000 

 barrels

of oil produced on average per day.

1.916

 billion

barrels of proven reserves.

70%

  of our proven reserves are gas.

75%

reduction

of E&P's carbon intensity in tonnes of CO2/kboe in 2025 with respect to 2016.

1.5

million tonnes

of CO2e GHG emissions reduction in 2021-2025 period.

1 million+

Bbl/d

 refining capacity.

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Townhall Upstream 2023 

Video · 2:58

Explorers of the future

Our team of technicl experts are continually developing innovative ideas and advancing state-of-the-art technology to meet the world's energy needs safely and responsibly.

Rubén Rodríguez

A leader in artificial intelligence

Rubén Rodríguez Torrado from Badajoz is 32 years old and works at Repsol. He has become a world leader in his field.

Marcellus, Amy Gilbert

The Marcellus field in the Unites States is one of the most bountiful gas production areas on the planet — and Amy is part of it.

Watch the project video
Napoleón Vilalba

A successful outcome to a great challenge

We operate at the forefront of offshore platform removal. An example of this is the YME project in Norway, lead by Napoleón Vilalba.

Watch the YME project video
Sakakemang block facilities in Indonesia

Decarbonization: Our commitment to sustainability

The Upstream business aims to be a sector leader in reducing CO2 emissions by decreasing its carbon intensity by 75% in 2025.

Carbon capture and storage will play a key role in the development of new projects. In 2027, the Company will start up the storage of two million tons of CO2 per year at Sakakemang, the largest gas discovery in Indonesia in the last decade. This capture and storage project is among the largest of its kind in the world, and it will be the first for Repsol and Indonesia.

Its cutting-edge technology and the digitalization of its processes will be key for meeting these targets as well as our circular economy strategy, which includes the development of more than 60 initiatives, the majority of which are linked to the improvement of the efficiency and the innovation of processes.

Eagle Ford Sunset Tower

Efficiency and digitalization in all our operations

Our goal is to optimize resources and improve logistics management, maintenance, and sizing costs.

We do this by relying on technology and digitization as well as the RISE (Resilience, Innovation, Sustainability, and Engagement) progam, which aims to increase production and the profitability of our assets. 

We use Digitalization as a lever that contributes to sustainability, emissions reduction and progress in decarbonization.

Use of Big Data, Artificial Intelligence, Internet of Things, Robotic Process Automatization, Omnichannel, Blockchain and constant updates on new technologies to help design new digital products and services to improve the efficiency of our operations.

Working the best technology

We work to develop methods that allow us to optimize our hydrocarbon exploration and production processes using artificial intelligence and machine learning techniques. There are three main objectives in this area: reduce the time it takes to start the production process, increase efficiency, and develop technologies that assist in each phase of an oil field's life cycle.

Learn how we do it