Galp Expects New Field to Boost Its Production in Brazil by 40%

Portugal-based energy company Galp expects its oil production in Brazil to jump by 40% in the coming years as a new major field is set to begin production later in 2025, Nuno Bastos, EVP Upstream, has said. Currently, Galp holds stakes in various oilfields in the deep waters of the Santos basin in the prolific pre-salt layer offshore Brazil. The Portuguese firm’s production in Brazil is about 110,000 barrels of oil equivalent per day (boepd) at present. The expected start-up of the Bacalhau field, operated by Norway’s Equinor, is set…