Galp | Press releases

International activities boost earnings - Oil and gas working interest production increased 20% with addition of new Brazilian pre-salt unit and its ramp-up to maximum capacity production. Energy efficiency and increased exports benefit refining system. Capex of €218 million boosts 1st half investment to €364 million. Adjusted net income totals €251 million.

Galp produces 1st oil in Angola's Kaombo project - Angola is expected to once again contribute to the growth of Galp’s average daily production, which stood at 108.1 thousand barrels in the 2nd quarter. Kaombo’s development plan comprises two FPSOs with a combined daily production capacity of 230K barrels. The second FPSO unit is scheduled to start operating as early as next year.

Galp and IBM build cutting-edge Artificial Intelligence advisor to speed-up appraisal of oil and gas prospects and discoveries - Prototype is the result of a three-year research project between Galp’s Brazilian unit, Petrogal Brasil, and IBM Research-Brazil. Project undertaken under Brazil’s ANP R&D incentive framework. This tool is trained on knowledge from previous evaluations and experiences and improves its capabilities by interacting with users or ingesting more data

Mozambique’s Area 4 consortium submits development plan for the Rovuma LNG Phase 1 - The project comprises two LNG trains which will produce 7.6 mtpa. The Final Investment Decision is expected in 2019 and first gas in 2024.

Galp to align participating interest in the Greater Carcará area - Following the transactions, Petrogal Brasil will hold 20% in each of the two licenses, while Equinor, the operator, and ExxonMobil will each have 40%. The acquisition of the additional 3% interest is valued at c.$114 million. Galp aims to expand in core areas, such as the Brazilian pre-salt, by developing selected high-quality assets through strong partnerships.

Galp joins the United Nations in promoting gender equality - The company subscribed to the United Nation's seven gender equality principles.

Galp acquires Uirapuru block stake in Brazil’s 4th production sharing bid round - Galp will hold a 14% stake in this new pre-salt area, and Petrobras, who exercised its operatorship rights, will hold 30%. ExxonMobil and Equinor will each hold 28%. Acquisition is part of Galp’s strategic commitment to strengthen its position in high-quality assets in core areas.

ENI-Galp Statements on APA waiving need for aditional environmental impact studies for Alentejo offshore test well - Portugal’s Environment Agency, APA, confirms that the environmental studies and risk assessments already carried out on the Santola-1X project are exhaustive and has not identified significant negative environmental impacts

Galp enters 20-year LNG purchase and sales agreement with U.S.’s Venture Global - U.S. purchases are expected to start in 2022.Galp is set to acquire one million tons of LNG per year. Agreement secures balanced and competitive sourcing for Galp’s international natural gas activities.

1st Quarter 2018: Brazilian projects boost growth - Production increases 18% and steadies above 100k barrels per day. All seven units in Brazil producing at maximum capacity. Adjusted net income totals €135 million.

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Press Releases