New gas exploration project planned for Canary Islands

Repsol YPF SA will join forces with RWE AG and Woodside Petroleum Ltd to develop a gas and oil exploration project on the Canary Islands, Expansion reported, citing unnamed Repsol YPF sources.

According to the newspaper, Repsol YPF has already set up a company to manage the project, in which Woodside plans to acquire 30% and RWE 20.