Spain’s Repsol is selling half its Gulf oil project to Talos Energy, a US company

Repsol, a Spanish oil company, is selling a 50% stake in its Block 29 oil and gas project in the Gulf of Mexico to US-based Talos Energy for over $50 million in two payments. The deal requires approval from Mexico’s Energy Ministry and the National Antitrust Commission, with Talos gaining a working interest in the 3,254-square-kilometer area containing significant oil discoveries and exploration potential.