Galp Energia, SGPS, S.A. (“Galp Energia”) informs that an agreement has been reached between the Government of São Tomé and Príncipe, Galp Energia and Kosmos Energy for the award of Block 6 offshore São Tomé and Príncipe. Galp Energia will be the operator of the block with 45% interest, together with Kosmos Energy, with a 45% interest, and the National Petroleum Agency (ANP) on behalf of the Government, with a 10% interest.
Block 6 is located in São Tomé and Príncipe Exclusive Economic Zone (EEZ) in water depths of up to 2,500 metres (m) and covers an area of 5,024 square kilometres.
Galp Energia and its partners have committed to perform several exploration activities, including seismic acquisition, during the first exploration period of four years.
This acquisition allows Galp Energia to access a frontier area as operator in a new geography, while maintaining a solid financial position.
The Company remains focused in executing its world-class development projects, most notably in Brazil and in Mozambique, while maintaining a diversified exploration and appraisal portfolio that ensures a sustainable level of production in the 2020’s decade.
Source: Galp Energia, SGPS, S.A.