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Algarve |
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New contracts for oil prospecting off the Algarve coast
• 08 Mar 2007 •
 THE government has confirmed its intention to sign new contracts with international companies which are interested in prospecting for oil off the Algarve coast. Portugal’s Director-General of Energy, Miguel Barreto, confirmed those intentions during a parliamentary hearing at the Commission on Economic Affairs, Innovation and Regional Development.
Earlier this year, Portugal’s Galp Energia and its international partners, Australian Hardman Resources and Partex Oil and Gas, already signed three contracts for the exploration, development and production of oil in Portugal.
The three contracts gave concession rights for the exploration of three different areas offshore, near Algarve’s western coast at Vila do Bispo and Aljezur, as well as southern Alentejo. According to the government, another concession for exploring oil will soon be granted.
The concession to explore two blocks located 8.5km off the Algarve’s south coast between Tavira and the Spanish border result from an international tender set in 2002. Miguel Barreto said that the jury in charge of choosing the winner has proposed to the government that the contract should be signed with a consortium formed by Spanish company Repsol and German RWE.
This announcement was not well received by many Algarve sectors, including environmentalists and people connected with the tourism industry. Algarve MP Mendes Bota has already pointed out that an oil extraction industry set up off the region’s coast could have severe environmental consequences as well as extremely negative effects to the tourism industry, since an oil spill could cause severe damage to the region’s beaches and chase tourists away for many years.
He added that the contract, about to be signed by the government, will bring poor financial benefits to the country, and almost none for the Algarve. He stated that he has already presented a formal complaint to the European Commission about the government’s decision to award a concession for prospecting and drilling for oil off the Algarve coast for the next 55 years. |  Return to Top
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