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Algarve coast’s natural gas
• 21 Nov 2007 •
 A Portuguese scientist has said the natural gas reserves off the Algarve coast are large enough to supply 65 per cent of the country’s needs.
Hugo Matias, a 33-year-old geophysist who works for Spanish oil company Repsol, presented his PhD thesis to Lisbon University. It consists of an indepth study of the hydrocarbon potential in the offshore Algarve basin.
His thesis concluded that the sea bed off the Algarve coast has all the characteristics necessary to have large reserves of hydrocarbons, especially a natural gas field, which would potentially allow it to produce almost two thirds of the country's needs for this natural resource, which Portugal imports in large quantities from Algeria.
This is the first time a study of the Algarve offshore area has focused on the kind of details that oil companies are really interested in.
Antonio Costa e Silva, President of Partex Oil & Gas, stressed that due to the enormous investment needed to start drilling operations in an offshore area, companies need to have detailed studies which can give them an accurate picture of the potential of the area. He said: “Hugo Matias’ study fits this profile exactly.”
In 2002, while Durão Barroso was prime minister, the Spanish company won the public tender to prospect for oil in two areas. After much controversy and red tape, the concession was finally awarded in 2005, but Repsol is still waiting for the Portuguese Government to sign the contract that will allow it to start drilling. |  Return to Top
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