The Italian company will become operator and promoter of exploration, with a share of 70%. Galp ensures the remaining 30%. The partnership comes after the failure of the recent onslaught of national oil in Morocco.
Galp Energia signed an agreement with the Italian multinational Eni for oil exploration in the border region Portuguese. The partnership covers three concession areas, with about 9,100 square kilometers.
“The exploration program includes the drilling of one exploration well during the next exploration phase,” concludes the information sent on Thursday, December 18, the Securities Market Commission (CMVM).
The Eni “will hold a 70%, becoming operator and promoter, and Galp Energia holds a stake of 30%, “the Portuguese oil
The three awards -. called Lobster, spider crab and Gamba – located in”. border region in the offshore of Portugal “
How advanced the business in early December, Galp was negotiating the entry of an investment partner in their projects “offshore”, off Alentejo and Peniche, after losing 50 million with its invested in Morocco.
well drilling in 2015
“Galp Energia alone was not able [to move forward with this project] and would be a bad move alone managed a project of this complexity. And also not yet had the qualification to be operators in ultra deep waters, “said the chief executive of Galp, Manuel Ferreira de Oliveira, at the end of the agreement signing ceremony, according to Lusa.
According to the manager, “Galp has no experience to be only operator” and, in accordance with industry rules, “the operator is the one with greater participation.” “To be operator in ultra deep water companies must have a qualification international Galp has not. Galp only has international qualification to operate on land in shallow water – up to 400 feet deep. “, Explained
However, the entry of Eni in this consortium will enable the drilling of a well” from 4000 and 5000 meters deep, during the year 2015, “added the official, according to which there is no” sure “that there is oil discoveries.
Since the Brazilian Petrobras announced the closure of activities in Portugal at the end of 2013, Galp started looking for new partners to share the 100% interest in the concession and the exploration risk in the Alentejo Basin.
The signing of the partnership, which took place at the Center Cultural de Belém in Lisbon, was attended by the Minister of Environment, Energy and Regional Planning, Jorge Moreira da Silva, the Secretary of State for Energy, Artur Trindade, among other personalities.
In Portugal has never made a hole in these ‘ultra deep offshore [ultra deepwater]. If done, and within such a short [until October 2015] will be the first time it happens in Portugal and prospects are innovative, “he said, in turn, Artur Trinity.
( updated news at 19.55 with more information)
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