Galp Acquires Seven Offshore Brazil Blocks

During the 9th bidding round for exploratory blocks organized by the National Oil, Gas and Biofuels Agency ("ANP") in Brazil, Galp Energia has acquired the following blocks:

--Campos Basin: Block C-M-593. Located in an area with high potential on shallow waters, the total signature bonus for the Block was 15.3 million Brazilian Reais. The winner consortium, where Galp Energia holds a participation of 15%, also includes Petrobras, the operator with 47.5% and Ecopetrol, S.A., with 37.5%;
--Santos Basin: Block S-M-1162, Block S-M-1163 and Block S-M-1227. These three blocks are situated in a high potential area on shallow waters. The winner consortium, where Galp Energia holds a participation of 20%, also includes Petrobras, operator with 60% and Queiroz Galvao Oleo e Gas, S.A., with 20%. The total signature bonus paid for these three blocks was 106 million Brazilian Reais;
--Pernambuco-Paraíba Basin: Block PEPB-M-783, Block PEPB-M-837 and Block PEPB-M-839. These blocks are located in a sector called "new frontier," and the total signature bonus for the three blocks was 7.6 million Brazilian Reais. The winner consortium is composed by Petrobras, operator with 80%, and by Galp Energia with 20%.

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