Galp Secures Three Exploration Blocks in Brazil

Wednesday, June 18, 2025

Portugal's Galp has been awarded three offshore blocks as part of Brazil’s fifth Open Permanent Concession bid round.

Galp acquired offshore early-stage exploration blocks P-M-1670/1672/1741 in the Pelotas basin, in the southern region of the country.

The awarded consortium is composed by Petrobras, as operator with 70%, and Galp with a 30% interest.

The gross aggregate signature bonus for the blocks amounts to approximately $2.08 million.

The fifth cycle of the Permanent Concession Offer hosted today by the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP).

Categories: Industry News Activity South America Oil and Gas

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