- Galp acquires a 27.5% stake in São Tomé's Block 4 from Shell affiliate KE STP Company B.V.
- Galp has been present in São Tomé since 2015, holding interests in three offshore blocks.
- In 2022, Galp drilled São Tomé's first offshore exploration well, Jaca-1.
- Galp's entry into Block 4 highlights its commitment to developing São Tomé's offshore resources.
Galp's New Stake in Block 4
Galp has entered a farm-in agreement with KE STP Company B.V., a Shell affiliate, to acquire a 27.5% stake in São Tomé and Príncipe’s Block 4. This joint venture includes Shell, Petrobras, and ANP-STP, with Shell as the operator.
Existing Presence in São Tomé
Galp has been active in São Tomé since 2015, holding interests in three offshore exploration blocks in the Muni River Basin. It operates Block 6 with a 45% interest, alongside Shell and ANP-STP. In 2022, Galp drilled the first offshore exploration well, Jaca-1, which identified an active petroleum system.
Other Exploration Interests
Besides Block 6, Galp holds a 41.2% operating position in Block 12, partnering with Equator and ANP-STP, and a 20% stake in Block 11, operated by Shell with Petrobras and ANP-STP as partners.
Commitment to Offshore Development
Galp and its partners have conducted extensive seismic campaigns and geological studies to assess the hydrocarbon potential of these blocks. The entry into Block 4 underscores Galp's long-term commitment to developing São Tomé's offshore resources.
