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Galp may sell stake in 'significant' Namibia find
The news is being advanced by Reuters.
© Galp Energia
Economia Galp
Galp may sell a stake in a potential “material commercial discovery” of oil in Namibia, according to Reuters, which cites three sources familiar with the matter.
According to the news agency, Galp is looking to sell a 40% stake in the block.
On Sunday, Galp informed investors that the oil reservoir in Namibia, in the first phase of testing of the Mopane campaign, points to a “potential material commercial discovery”.
In a statement sent to the Portuguese Securities Market Commission (CMVM), the company explains that “only in the Mopane complex and before drilling additional exploration and appraisal wells, the hydrocarbon estimates in place are of 10 billion barrels of oil equivalent, or more”.
Read Also: PSI up. Galp rises 16.6% after revealing potential in Namibia (Portuguese version)
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