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Relief on Costa del Sol as gas drilling project abandoned
http://www.euroweeklynews.com/3.0.15/news/on-euro-weekly-news/costa-del-sol-malaga/131813-relief-on-costa-del-sol-as-gas-drilling-project-abandoned
Relief on Costa del Sol as gas drilling project abandoned
06 August 2015
FOLLOWING more than a decade of doubts and arguments going back and forth, the Costa de Sol will not see gas drilling platforms erected in its waters.
Energy multinational Repsol has renounced the rights it was given in 2004 to drill in search of gas off the coast of Mijas and Fuengirola.
Two weeks before the investigation permit was due to run out (on August 20) the global energy company has informed the Ministry of Industry that it will not be applying for another extension to continue waiting for the Spanish government to award final permissions to drill.
The company announced that its withdrawal was due to business interests as it had recently acquired an important amount of shares in Canadian Talisman Energy, and after analysing all the projects on the table had decided to put all its efforts into those which were more advanced and likely to be successful and park those which were uncertain.
