* Case designed to protect Repsol interest in Argentina
* Repsol hopes for deal with Argentina over YPF
MADRID Nov 19 A Spanish court has agreed to
consider a lawsuit by Repsol against U.S.-based Chevron
Corp over its cooperation agreement with Argentina's YPF
Repsol had threatened legal action against companies that
invest in YPF after Argentina seized control of the Spanish
firm's majority stake in the energy company in April.
"Repsol will continue to take all legal action necessary to
protect its interests" in YPF, a Repsol spokesman said on
Monday, confirming a Reuters report that a Madrid court was
studying a case brought by the Spanish company.
No one was immediately available to comment at Chevron.
YPF announced a deal in September with Chevron to jointly
explore for share oil and natural gas in the South America's
Vaca Muerta field.
Repsol also sued Argentina in May through a U.S. court as
part of an effort to recover more than $10 billion from the
country in a case that could drag on for years.
The company's chairman Antonio Brufau said in an interview
on Sunday he hoped to reach an agreement with Argentina over
Repsol had said it would seek arbitration at the World
Bank's International Centre for Settlement of Investment
Disputes (ICSID). Six months must pass before ICSID will
consider arbitration in any dispute, to allow negotiations
between the two parties.
Those six months have now expired and it is up to Repsol to
request arbitration in a process that experts say could take
more than a year.