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Portuguese Company’s Oil Production Grew 21% and Reached 124 Thousand Barrels per Day, with 111 Thousand Produced in Brazil
In a statement to the press, the Portuguese Galp reported a 21% increase in its oil production, reaching a total of 124 thousand barrels per day. See the List of the 13 Companies Interested in the 6th Round of the Pre-salt Auction.
The survey takes into account the third quarter of this year and is compared to the previous quarter, with Brazil as the company’s protagonist.
The growth in production in Brazil was 17% compared to the previous quarter, with 111 thousand barrels produced, accounting for 88% of Galp’s oil production.
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According to the company, Angola also saw a considerable increase of 72% and was responsible for the remaining production (12%), with 12.7 thousand barrels per day.
The statement also highlighted a decrease in refined product sales (13%), with sales to direct customers dropping by 2%.
The company explained that it processed 26% less feedstock in the third quarter due to a planned maintenance shutdown at the Sines refinery in Portugal. The company’s natural gas sales also faced an 11% decline, with a 6% drop in sales to direct customers.
The Company
Galp is a group of Portuguese companies in the energy sector. It owns Petrogal and Gás de Portugal, and is currently an integrated group of petroleum products and natural gas, with activities ranging from oil and natural gas exploration and production to refining and distribution of petroleum products, to natural gas distribution and sales, and electricity generation.
The company is present in 11 countries and employs 6,360 people directly.
With a presence in Brazil since 1999, Galp is involved in various projects in the phases of oil development and production.
The offshore projects include interests in three ultra-deep water areas of the Santos basin (BM-S-11, Grande Carcará, and BM-S-24), particularly in the Lula and Iracema projects. The onshore projects are smaller, with Galp being the operator in some of these projects.
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