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Galp wins another block of oil exploration in the Brazilian pre-salt

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 07/10/2026, 15:56:24 UTC.

Briefings

Galp won the bidding for the Rodocrosita oil block in Brazil's Santos Basin, securing a 30% share alongside Equinor. The operation offers a 15.52% oil surplus, representing a 494.64% premium over the minimum. Total investment is 778.43 million reais, with 530.47 million reais in fixed bonuses and future production rights. Seven other blocks were awarded, none of which had interest, as the market assumed most high-potential areas were already sold to the Brazilian government.

Key points

• Galp won the bidding for the Rodocrosita oil block in Brazil's Santos Basin, securing a 30% share alongside Equinor.
• The operation offers a 15.52% oil surplus, representing a 494.64% premium over the minimum.

Context

Brazil is the main driver of Galp's growth in recent years. Seven exploratory oil and gas blocks were awarded in a non-disputed auction, with the highest premium recorded at Rodocrosita.

Limitations

Evidence covers only the Rodocrosita block; six other blocks were awarded but had no interest. The market assumed most high-potential areas were already sold to the Brazilian government. Total investment is 778.43 million reais, with 530.47 million reais in fixed bonuses and future production rights.

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