Petrobras has a recovery triggered by the Portuguese company Galp, which intends to invest very heavily in Brazil until 2020.

Petrobras has detonated recovery in the face of the billionaire investment of the Portuguese company Galp in Brazil. Galp intends to invest around 1 billion Euros in the country by 2020. This confirmation came after purchasing a 3% stake in the Caracará block, in the Santos basin. With a large participation in the Northeast of Brazil, Galp has been consolidating its presence in the Brazilian market even though it does not yet have the size of the participation of the State-owned Petrobras in the country.

Auction held by the National Agency of Petroleum, Natural Gas and Biofuels (ANP), secured Galp's participation in the Uirapuru block, acquiring 14%. With an air of confidence in the exploratory market, Galp made investments in the “house of millions” with profitability in Carcará and Uirapuru. The area that will be explored by the Portuguese company has great potential and, in partnership with other companies, Galp has offered a surplus of oil to the Federal Government in the form of profit.

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