Repsol awarded oil exploration rights SPANISH oil company Repsol has been awarded oil exploration rights off the coast of Guyana, the Ministry of Natural Resources says. The deal was signed by Repsol director Jose Murillas and Guyana's President Donald Ramotarma, who also serves as oil minister in the South American nation. The ministry and Repsol also signed a production sharing agreement. The concession is located some 160 kilometres from the mouth of the Berbice River, and covers 6,525 square kilometres. "Repsol is anxious to commence work obligations," the ministry said on Tuesday, adding that the licence was granted to Repsol for "an initial period of four years."