Galp informs that it has reached an agreement with Kosmos Energy (“Kosmos”) for the acquisition of a 20% interest in blocks 5, 11 and 12 offshore São Tomé and Príncipe. Through this acquisition, Galp reinforces its presence in the country, where it holds, since 2015, an operating interest in block 6, in which Kosmos also participates.
Kosmos will remain the operator of every block, and the consortia will be as follows:
The consortia will proceed with the acquisition of 3D seismic in all blocks.
The transaction is expected to close prior to year-end, subject to the approval by ANP and Government Authorities.
Galp upstream strategy 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.