Galp Expands Oil Production in Brazil with New Frontiers

Galp, a Portuguese energy company, is expanding its oil production in Brazil by seeking new frontiers. The company has been operating in Brazil for 25 years and has reached a production peak of 160,000 barrels of oil equivalent per day (boed) in September. Galp's CEO in Brazil, Paula Pereira da Silva, said that growth has been driven by the startup of the Bacalhau platform in the Santos Basin, developed in partnership with Equinor and Exxon.

The company expects to average 130,000 boed in 2026 and is focusing on exploration assets to replenish reserves. Galp has acquired three blocks in the Pelotas Basin in southern Brazil and has expanded its asset base in African countries. The goal is to ensure longevity by extracting more value from existing assets and discovering new ones.

Galp's CEO, Paula Pereira da Silva, said that 'Brazil has immense and proven geological potential. New frontiers are a priority for us.' She also mentioned the Equatorial Margin as an area with many undiscovered areas in Brazil, where the company has four blocks in the Barreirinhas Basin.