“Galp, in partnership with Petrobras, has secured the allocation of blocks 1741, 1670, and 1672 in the Pelotas sedimentary basin in southern Brazil, as part of the 5th Cycle of the Permanent Concession Offer held this morning by ANP [National Agency of Petroleum, Natural Gas and Biofuels],” the company stated.
Through an offer of a signature bonus of 11.5 million reais (1.8 million euros), the consortium acquired exploration rights over a total area of more than 3,023 km2 in the Pelotas offshore basin, it indicated.
The winning consortium comprises Petrobras, acting as the operator with a 70% stake, and Galp, holding the remaining 30%.
The companies have a strategic partnership spanning 25 years, seeking synergies in areas such as Exploration & Production, Innovation, and Research, it noted, highlighting that together they have developed world-class assets like the Tupi/Iracema field in the Santos basin, one of the largest deepwater discoveries ever.
“With this investment, we reaffirm our long-term commitment to Brazil and renew confidence in its potential,” said Paula Pereira da Silva, Galp’s Country Manager in Brazil, as quoted in the same note.
“Brazil has everything to be a benchmark among the world’s largest producers: it has highly skilled professionals, proven operational excellence, and one of the most efficient production operations with the lowest carbon intensity. We have had the privilege of being part of this success story from the beginning,” she concluded.
Galp recalled that it is currently the fourth largest oil and gas producer in Brazil, having been a pioneer in the pre-salt exploration of the Santos Basin (1999), where it currently concentrates all its production.
