Portuguese company increases production of oil in 67.9%

The Group of Portuguese companies, Galp Energia, which operates in Brazil, reported that its oil production (net entitlement – that impact in the accounts), increased by 67.9% in the fourth quarter of 2016, compared to the same period in 2015. This ridge was still 15.6% higher than the three months before the time evaluated.

According to the company's statement to the markets and Furniture Values (CMVM), the elevation of the production took place mainly due to the start-up of two new floating production units of oil and gas (FPSO) in Brazil last year, as well as on behalf of wells to the FPSO Cidade de Itaguaí, which, moreover, has been producing at maximum capacity of 150,000 bpd Since August of 2016.

In addition, Galp Energia announced that the total production (' working interest ') also obtained an increase in 63.2% in terms approved by getting 84900 barrels per day, being 75600 barrels of oil and natural gas barrels 9300.

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