Galp to Join Consortium for Angolan Gas Exploration

In accordance with the terms of article 248 of the Portuguese Securities Code, Galp Energia, SGPS, S.A. hereby discloses the following information:

Galp Energia signed, in Lisbon, an agreement to participate in a consortium for the development of natural gas exploration activities in Angola.

In a first phase this agreement provides for exploration of natural gas reservoirs, located offshore north of Angola. After this stage, and following the conclusion of the evaluation of results achieved, a natural gas liquefaction plant may be constructed, if the volumes encountered during the first phase justify the project.

The consortium, in which Galp Energia holds a participation of 10%, also includes Sonangol Gás Natural, Lda, a subsidiary of Sonangol for natural gas and the consortium operator with 40%, ENI Angola Exploration, B.V. with 20%, Gas Natural West Africa, a company that will include Gas Natural and Repsol, with 20% and Exem Exploration & Production, B.V. with 10%.

Galp Energia is also present in oil exploration and production offshore Angola, through stakes in Block 14, Block 14K, Block 32 and Block 33.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Landman - Permian Basin
Expertise: Landman
Location: Midland, TX
SXL - Senior Counsel, Corporate Finance & Securities
Expertise: Accounting|Legal
Location: Newtown Square, PA
Operations Supervisor - Hobbs, NM Job
Expertise: Asset Management|Operations Management|Refinery / Plant Operations Supervisor
Location: Hobbs, NM
search for more jobs

Brent Crude Oil : $49.71/BBL 1.50%
Light Crude Oil : $48.7/BBL 2.05%
Natural Gas : $3.11/MMBtu 12.68%
Updated in last 24 hours