Composition of the Repsol Group

Repsol is comprised by a group of companies from the energy sector that operates across five continents. The Repsol Group contains more than 300 companies incorporated in more than 40 countries (mainly in Spain, the Netherlands, Canada, and the US) that, from time to time, carry out activities abroad through branches, permanent establishments, and so on.

In the oil and gas industry, exploration and production activities are usually carried out through partnerships or associations between companies classified as joint arrangements that are implemented through Joint Operation Agreements, which are included in the shareholders' financial statements in accordance with the share of the assets, liabilities, income, and expenses arising from the agreement, or as Joint Ventures, which are included in shareholders' financial statements using the equity method.