Galp Energia may advance with oil well in Alentejo

Portuguese oil company Galp Energia continues to develop with the first oil exploration well on the Alentejo coast in Portugal, about 80 kilometers from Sines, according to company president Carlos Gomes da Silva when it released its strategic plan For 2017-2021. The president further stated that an operation should be made when all conditions are met.

Eni, the Italian oil company, holds a 70% majority stake in the partnership with Galp (30%) to prospect for oil on the Alentejo coast, where it holds three concessions, called Lavagante, Santola and Gamba, covering a total area Approximately 9,100 square kilometers.

The hole that must be realized in Alentejo to know the potential of the submarine bed has a depth between 1,200 and 1,600 meters, with an estimated cost of one million dollars per day (being foreseeable that it is prolonged by a period of 45 to 60 Days).

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