Oil reserves in Spain

The oil reserves of Spain have been little exploited[1] but major inshore and offshore deposits were discovered in the late 20th century[2] and early 21st century.[3] There are oil deposits in Burgos (Ayoluengo oil field), Córdoba, the south shore, Cádiz, Sevilla, Jaén, Asturias, Tarragona, Valencia and Canarias.[4][5] The Tarragona oil deposits, which lie offshore, include the Lubina and Montanazo deposits,[6] all located within the Casablanca oilfield, discovered in 1975, and the largest find in Spain until the 21st century.[2] The Viura gas field was discovered in 2010 in La Rioja, near Logroño; it contains 3 billion cubic meters of natural gas.[7]

Reserves in the oilfields offshore the Canary Islands are estimated at 500 million barrels of crude. In total, in 2014 it was estimated that Spain holds 2.5 billion cubic meters of natural gas and 2 billion barrels of petroleum.[3]

  1. ^ Juan Ignacio González Ruiz; and Michelle Lezama Molina; Uría Menéndez (1 November 2020). "Oil and gas regulation in Spain: overview". Practical Law. Thomson Reuters. Retrieved 3 May 2023. Spanish oil exploration and extraction activities are almost non-existent. According to the Spanish Corporation on Strategic Stocks (CORES) database, in 2019 only 0.07% of final oil products for consumption were produced domestically.
  2. ^ a b Jorge Navarro Comet (March 2019). "Casablanca: Spain's Biggest Oil Field". AAPG Explorer. American Association of Petroleum Geologists. Retrieved 3 May 2023. he Casablanca oil field, discovered in 1975
  3. ^ a b Stephen Burgen (26 March 2014). "Spain's oil deposits and fracking sites trigger energy gold rush". The Guardian. Retrieved 3 May 2023. Major offshore oil discoveries [...] an estimate of 2bn barrels of oil and 2.5bn cubic metres of gas. The oil companies estimate that the deposits in a series of oilfields off the Canaries, the latest of which was confirmed last week, amount to 500m barrels of crude.
  4. ^ "España, tierra de petróleo sin explotar: estos son los lugares donde hay crudo". El Debate (periódico digital). 2 May 2023. Retrieved 3 May 2023. yacimiento más famoso se encuentra en Ayoluengo (Burgos), hallado en 1964 y donde se llegaron a extraer hasta 10.000 barriles diarios, pero no es la única: Adamuz (Córdoba), la Costa del Sol, el Golfo de Cádiz, Sevilla, Jaén, Asturias, Cantabria, las aguas de Tarragona y de Canarias y el Golfo de Valencia completan el mapa petrolífero español
  5. ^ "El Petróleo". Energía. Ministerio de Medio Ambiente de España. Retrieved 3 May 2023. Se han descubierto yacimientos de petróleo y gas en varios campos en tierra y mar, el primero de ellos de petróleo, en 1964, en Ayoluengo (Burgos) y los posteriores en el mar Mediterráneo, golfo de Valencia, mar Cantábrico, valle del Guadalquivir y golfo de Cádiz
  6. ^ Darius Snieckus (17 May 2021). "Spain bans new oil and gas exploration, while supercharging renewables". Recharge. Retrieved 3 May 2023. Spain's main remaining producing oil & gas assets are in the Mediterranean Sea, off the coast of Tarragona. Transitioning national oil company Repsol operates the Lubina and Montanazo oil fields in the area
  7. ^ "España intenta exprimir su único yacimiento de gas permitiendo abrir un nuevo pozo en Sotes". El Economista (Spain). 22 March 2022. Retrieved 4 May 2023.