Exploration & Production in Portugal

Galp explores four offshore blocks in the Alentejo and Peniche basins.

In 2007, the concession contracts were signed with the Portuguese State to explore offshore blocks in the Alentejo and the Peniche basins. Both basins are considered new frontier areas.

Alentejo basin

Consortium: Galp (30%) Eni (Operator, 70%)
Area: 9,099 km²
Type: Ultra-deep waters
Water depth: 200 – 3,000 metres
No. of blocks: 3

During 2016, the works were mainly focused on the preparation of the drilling activities for the first well to be drilled, Santola-1.

The operation of the Alentejo basin blocks, previously operated by Petrobras, was transferred to Eni, which now has a 70% stake in that basin. Galp decreased its stake from 50% to 30%.

Three contracts for distinct, offshore areas, were signed with the Portuguese State, regarding concession of oil prospection, research, development and production rights: “Gamba”, “Lavagante” and “Santola”.

Peniche basin

Consortium: Galp (30%) Repsol (Operator, 34%) Kosmos Energy (31%) Partex (5%)
Area: 12,159 km²
Type: Ultra-deep waters
Water depth: 200 – 3,500 metres
No. of blocks: 1

Decision to abandon all blocks, with the exception of Camarão.

In 2015, the 3D seismic acquisition campaign in the Peniche basin was finalised.

In 2014 it should be noted the farm-in of Kosmos Energy in the Peniche basin, which acquired a 31% stake. Repsol remains the project operator with a 34% stake.

In May 2007, Galp signed an agreement with Petrobras and Partex for oil exploration and production in the Peniche basin, off the Portuguese coast.