Portugal’s ‘National Entity for the Fuel Market’, or ENMC formally has proposed to the Government that the deposit lodged by the Partex-Repsol oil exploration consortium should be forfeit due to the failure of the companies to comply with their work plan as detailed in the contract.
The oil exploration contracts, which the last government signed with the Repsol-Partex consortium, stated that the first offshore well in the Algarve exploration area would be drilled in 2016.