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Dec 06 2011

* Repsol Libya Joint Venture Oil Production At 200,000 B/D - CEO

Tuesday, Dec 06, 2011

(MORE TO FOLLOW) Dow Jones Newswires

06-12-11 0711GMT

* Repsol CEO Says Full Recovery Of Libya Exports To Take Some Time

Tuesday, Dec 06, 2011

(MORE TO FOLLOW) Dow Jones Newswires

06-12-11 0712GMT

Repsol Libya Joint Venture Oil Production At 200,000 B/D - CEO

Tuesday, Dec 06, 2011

DOHA (Zawya Dow Jones)-- Repsol YPF SA's (REP.MC) top executive said Tuesday oil production at its Libya joint venture had reached 200,000 barrels a day, already surpassing the Spanish company's target for next year.

"We are now producing about 200,000 barrels per day which is above our target," Antonio Brufau, Repsol 's chairman and chief executive officer, told Zawya Dow Jones. "This is about 60% of our previous full production...it won't be easy to reach full production."

The accelerated ramp up at Akakus Oil Operations is the latest evidence that Libya's crude production is returning faster than expected following the toppling of late dictator Moammar Gadhafi.

Asked when he expected Libya's exports to reach pre-war levels, he said "it will take some time."

-By Summer Said, Dow Jones Newswires; +966-546-842373; summer.said@dowjones.com

Copyright (c) 2011 Dow Jones & Co.

(END) Dow Jones Newswires

06-12-11 0728GMT

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