Galp withdraws from E&P offshore Angola

Offshore staff

LISBON, Portugal — Galp has agreed to sell its upstream assets offshore Angola to Somoil -Sociedade Petrolífera Angolana.

The transaction, estimated at about $830 million, should complete during the second half of this year.

The sale comprises

• Block 14 (9% Galp): Tombua; Landana; BBLT – Benguela, Belize, Lobito, Tomboco; and Kuito;
• Block 14K (4.5% Galp): Lianzi;
• Block 32 (5% Galp): Kaombo (operating) and CNE (under development).

Somoil is already present in Block 14.

02.17.2023