Lisbon, Portugal, 12 Nov – The chairman of Portuguese oil group Galp Energia said Wednesday in Lisbon that production has seen a ”strong drive” with the start of production at the Tômbua-Lândana oil field, at which the company expects production of 90,000 barrels of oil per day in 2010.
Ferreira de Oliveira, who was speaking at a presentation of first quarter results, said the Angolan oil field – which launched in August – was one of the projects that would transform Galp, given that as well as the levels of production expected in 2010, around 90,000 barrels per day, the Tômbua-Lândana field was expected to see a “peak of production of 100,000 barrels per day in 2011.”
Tômbia-Lândana is the third production field in block 14 in Angola, in which Chevron has the biggest stake, with 31 percent, and Sonangol, Total and Eni have 20 percent each, whilst Galp Exploração e Produção has the remaining 9 percent.
Another of the large projects, Galp’s chairman noted, was the exploration at Tupi, Brazil, which so far “has produced 1 million barrels,” and it is expected that commercial production at Tupi will be launched next December.
In total Galp, in the first nine months of the year, produced 13,600 barrels of oil per day, or 9 percent less than the 14,900 barrels in the same period of last year.
The chairman of the oil company also said that the “company will continue with its investment plan,” until 2013, which includes spending of 4.3 billion euros.
The company announced day that its adjusted profit had fallen 49.2 percent in the first nine months of the year to 179 million euros, against the same period of 2008. (macauhub)