News

Portugal: Galp gives up three Peniche blocks

Page created: Tuesday, 1 August 2017 9:35 GMT

Thematic
Tags:
Galp

Lisbon, Jul. 31 (Lusa) – Galp Energia has decided not to push ahead with oil exploration in three of the four concessions it owned in the Peniche basin, leading the company to record a €22 million impairment in the accounts for the first half of the year.

We decided to return the concessions for three areas before drilling started, Carlos Gomes da Silva said, adding that the decision was based on geological findings.

JNM/ADB // ADB.

Lusa