Repsol announces management changes

Offshore staff

MADRID, Spain -- Repsol YPF has appointed Miquel Martinez as COO, reporting directly to Antonio Brufau, chairman and CEO. Martinez has responsibility for the control and coordination of all the company's business units.

Martinez was the group managing director of control and corporate development with maximum responsibility in the areas of strategy and investor relations.

Martinez is an industrial engineer, with a degree in company executive management PADE by the IESE and manager corporate resources by the IMD of Lausanne University.

The company's four business executive managing directions will be the following:

Executive managing direction of upstream (exploration and production), lead by Nemesio Fernandez-Cuesta who will expand his responsibilities to all countries except Argentina.

Executive managing direction of downstream (refining, marketing, LPG and chemicals) lead by Pedro Fernandez Frial.

Executive managing direction of YPF (exploration, production, refining, marketing. and chemicals in Argentina), lead by the current director of the Chemical Division, Antonio Gomis Saez.

Executive managing direction of LNG, to be lead by the current executive director of ABB (Argentina, Brazil and Bolivia), Enrique Locutura.

All of them, and Cristina Sanz, the group managing director of resources, will report to the new COO.

Repsol also has appointed Javier Macian as group managing director, replacing Jesus Fernandez de la Vega. Macian was the director of human resources of ABB (Argentina, Brazil, and Bolivia).

Repsol YPF's Executive Committee is now comprised of the following:

Antonio Brufau (chairman and CEO)

Miguel Martinez (COO)

Pedro Fernández Frial (E.M.D. downstream)

Nemesio Fernández-Cuesta (E.M.D. upstream)

Jaume Giró (G.M.D. of communication and head of the chairman's office)

Antonio Gomis (E.M.D. YPF)

Enrique Locutura (E.M.D. GNL)

Javier Macián (G.M.D. human resources)

Fernando Ramírez (CFO)

Cristina Sanz (G.M.D. resources)

Luis Suárez de Lezo (G.C. and secretary of the board of directors).