Galp’s executive president on Tuesday guaranteed the oil company would retain a “significant position” in the Namibia oil exploration project, but admitted the current 80% stake was “beyond the company’s financial capabilities.”
“Given the size of the project, Galp is unable to maintain an 80% position. In fact, we have a 100% financial stake in the project,” Filipe Silva said during a conference call with analysts about the results of the first project. quarter of 2024, announced Tuesday by the oil company.
Despite this, the CEO did not confirm the news that Galp intends to sell half (40%) of its 80% stake in the Mopane oil exploration consortium in partnership with Namibian state-owned Namcor and Custos Energy (each with position 10%).
Author: Lusa
Source: CM Jornal
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