Galp Energia sells a 10% stake in projects in Mozambique
Portuguese oil and gas group Galp Energia has signed an agreement to sell a 10% stake in natural gas exploration projects in Mozambique to Abu Dhabi oil company Adnoc for 600 million euros.
| Countries | Émirats Arabes Unis, Brésil, Mozambique, Portugal |
|---|---|
| Companies | Galp Energia, ADNOC |
| Sector | Gaz, Pétrole, Exploration production, Exploration production |
| Theme | Investissements & Transactions, Transfert d'Actifs Énergétiques |
Galp Energia, a key company in the Portuguese energy sector, has decided to sell its 10% stake in the consortium exploring zone 4 of the Rovuma basin in northern Mozambique. The sale, announced by the Portuguese Securities Market Commission (CMVM), is expected to be finalized this year, subject to the necessary regulatory approvals. This strategic decision is part of Galp’s drive to refocus its investments on other geographical regions, notably Brazil and Namibia. In April, the company announced the discovery of a significant deposit at Mopane, off the coast of Namibia, estimated at 10 billion barrels of oil.
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