Galp Energia Acquires Exploration Blocks Offshore Brazil

Galp Energia participated on the first day of the 11th bidding round for exploratory blocks organized by the National Petroleum, Natural Gas and Biofuels Agency (“ANP”), that was held in Rio de Janeiro, Brazil.

On this first day of the bidding round Galp Energia was awarded the following blocks:

– Four blocks in Parnaíba basin, onshore, namely blocks PN-T-136, PN-T-150, PN-T-166 and PN-T-182. The awarded consortium, composed by Galp Energia and Petrobras with 50% each, paid a total bonus of 22.3 million Brazilian reais for these blocks. Galp Energia is the operator of two of the awarded blocks.

– Four blocks in the Barreirinhas basin, three of which in deepwater, namely the blocks BAR-M-300, BAR-M-342 and BAR-M-344, and one in shallow waters, the block BAR-M-388. The awarded consortium, composed by Galp Energia, which participates with 10%, by BG Group (operator) and by Petrobras, paid a total bonus of 251 million Brazilian reais for these blocks.

– One block in the Potiguar basin, the block POT-M-764 located in deepwater. The awarded consortium, composed by Galp Energia, which participates with 20%, by Petrobras (operator) and by BP, paid a total of 8 million Brazilian reais for these blocks.

[mappress]
Press Release, May 16, 2013