Repsol says oil, gas finds to stop reserve decline

* Expects over 100 percent reserve replacement in 2010

* Company in no rush to speed up divestments

* Not mulling sale of Gas Natural

By Clara Vilar

RIO DE JANEIRO, Nov 15 (Reuters) - Repsol (REP.MC), Spain's biggest oil company, said on Sunday it should be adding more oil and gas to its reserves than it produces by 2010, but did not include declining Argentine fields into this calculation.

Repsol's recent success with offshore oil and gas exploration will boost the rate at which new reserves excluding Argentina are added (Reserve Replacement Ratio) to over 100 percent of those that it uses outside the country by next year.

"Our reserve replacement ratio (RRR) grew to 90 percent in 2009 and will probably exceed 100 percent in 2010," the group's director of upstream activities, Nemesio Fernandez Cuesta, said at a meeting with journalists.

Repsol hopes recent exploration success in Brazil, the Gulf of Mexico and Venezuela, and its stakes in some of the largest oil and gas strikes in 2008 and 2009 will boost a reserve replacement ratio that was at just 65 percent of production in 2008.