Galp | Press releases

Galp Gas Natural and NOS test smart meters -

Brazilian oil and gas regulator approves Atapu and Sépia unitisation agreements - The Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) approved the Unitisation Agreements (UA) related with the Atapu and Sépia accumulations. These had been submitted by the BM-S-11A and BM-S-24 consortia, respectively, along with Petrobras, for the Transfer of Rights area (ToR) and Pré-Sal Petróleo S.A. (PPSA) for Atapu open area.

International activity drives earnings - More than 82% of first-half Ebitda came from international activities. Oil and gas production rose 6% with contributions from added. production units in Angola and Brazilian ramp-ups. Cash flow generation rose 17% to €501 million; net debt reduced by 8%. Adjusted first-halp Ebitda rose 2%, to €1.1 billion.

International projects support earnings - More than 86% of first-quarter Ebitda came from international activities. Oil and gas production rose 8% with contributions from added production units in Brazil and Angola. Ebitda rose 9% to €494 million in the first quarter from a year earlier. Adjusted net income declined to €103 million as tax costs increase.

Second unit in Angola offshore Block 32’s Kaombo project starts production - The second unit installed in less than one year will double the project’s installed capacity to a combined 230,000 barrels of oil and gas. Total recoverable volumes are estimated at around 650 million barrels.

Humanitarian aid to Mozambique - The Galp Foundation will provide emergency supplies to support the Red Cross’s relief effort. Galp employees collect food and essential goods.

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.

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Press Releases