Galp Energia becomes oil block operator in São Tomé and Príncipe

6 November 2015

Portuguese oil group Galp Energia will make its debut as leader of a consortium for oil exploration in São Tomé and Príncipe, and the respective agreement is due to be signed next Monday, announced the CEO of the group.

Carlos Gomes da Silva said the deal had been approved by the National Oil Agency of São Tomé and Príncipe, “and on Monday there will be the entry of a new partner, Kosmos Energy,” which will bring complementary expertise to Galp and allow risk sharing.”

The group, which will hold 45 percent of the consortium and will be the block 6’s operator, “is currently involved in partnerships on the other side of the Atlantic, namely in Brazil, in very deep water,” said Gomes da Silva cited by Portuguese news agency Lusa.

Galp Energia will operate this block and have a 45 percent stake in Kosmos Energy,based in Dallas, United States, will have 45 percent and the National Petroleum Agency (ANP) representing the State of São Tomé will keep the remaining 10 percent. (macauhub/ST)