Press Releases


Brazil approves unitisation agreement for the Santos basin pre-salt Lula accumulation - The agreement redistributes the individual participations in a reservoir that extends beyond the BM-S-11 concession area, in which Galp holds a stake. Galp will henceforth hold a 9% stake in an wider area.
2018 earnings: International projects boost growth - More than 80% of 2018 Ebitda came from international activities. Oil and gas production rose 15% with contributions from added production units in both Brazil and Angola. Ebitda rose 4% to €493 million in the 4th quarter from a year earlier and increased 24% to €2.2 billion for the full year. Capex of €300 million in the last quarter of 2018 brings total capex for the year close to €900 million. Adjusted quarterly net income slips to €109 million while full-year net income rose 23%, to €707 million. Proposed dividend of €0.63 per share.
Galp’s 9th Brazilian pre-salt unit starts production - The P-67 brings the installed processing capacity of the Lula/Iracema projects to a combined 1.3 million barrels of oil and 56 cubic meters of natural gas. The FPSO will expectedly connect to nine producer wells and six injector wells.
Galp distinguished on water security and climate change efforts - Only top-scoring oil & gas company on CDP’s 2018 water security A-List. ‘A-’ score on environmental risk management and carbon emission cuts.
Galp to start Namibia offshore seismic acquisition - The seismic survey in the PEL83 Offshore License comprises an area of around 3,000 km2 in Namibia’s deepwater offshore. The survey is scheduled to start January 25 and end in March
Sines Refinery turns 40 with new wave of investments - This press release is only available in Portuguese
Galp Foundation is part of an energy transition project that impacts 220,000 people in Guinea-Bissau - The Fumukaba project promotes the substitution of charcoal for butane in the preparation of food, benefiting more than 25,000 households. Funded by the EU and the Galp Foundation, it will have a strong impact on the health of Guineans and in reducing the devastation of forests
3rd Quarter Results: International expansion drives growth - More than 80% of Ebitda originated from international activities. New units in Brazil and Angola contribute to 10% increase in oil and gas production in the 3rd quarter from same period a year earlier. Capex of €234 million in the quarter brings year-to-date total investment to €597 million. Sines and Matosinhos planned stoppages improve refineries’ efficiency. Adjusted 3rd quarter net income totals €212 million.
Galp’s 8th floating unit starts production in Brazil’s pre-salt - The P69 has a production capacity of 150,000 kboepd. It is the 8th unit installed in eight years. Lula/Iracema’s total installed capacity tops 1 mln barrels.
Galp tops 100 million barrels produced in Brazil ahead of celebrating two decades in the country - The company’s average daily production surpassed 100 kboepd, in the second quarter, making it Brazil’s third-biggest producer; Galp has invested upwards of $5 billion on the development of its projects in the pre-salt, which it pioneered. Strong presence at the 2018 Rio Oil & Gas, Latin America’s largest Oil & Gas trade fair.
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