Production at Portugal’s Galp Energia exceeds 50,000 barrels of oil per day

27 October 2015

Portuguese oil company Galp Energia announced its daily production of oil and natural gas exceeded 50,000 barrels, following the entry into operation in the last quarter of the year, of two units in Brazil that almost doubled production.

The chief executive of Galp, Carlos Gomes da Silva, said the next goal was to reach, “100,000 barrels of daily production in 2017,” with the strengthening of production in Brazil, Angola and Mozambique.

Brazil was the main reason for the increase in Galp Energia’s production, with the entry into operation of the Itaguaí production facility in the state of Rio de Janeiro at the end of last July and the connection of an additional well in the city of Mangaratiba also in the state of Rio de Janeiro in the same month.

The production attributable to Galp in four units in Brazil, corresponding to its 10 percent stake in the consortium, was 39,500 barrels, in addition to onshore production onshore that allowed daily production in Brazil to reach 40,000 barrels.

The 10,000 additional barrels came from production units in Block 14 in Angola, where the Portuguese oil company holds a 9 percent stake.

“Production in Angola is expected decline in block 14, but will be offset by the entry into production of block 32, where Galp holds 5 percent,” the company’s chairman said.

The increase in production will result from new wells at the latest units installed in Brazil and which have yet to reach maximum production levels, as well as the entry into production of two new units in the first half of next year – Cidade de Saquarema and Cidade de Marica, both in the state of Rio de Janeiro. (macauhub/BR/AO/PT)