Galp Energia (GLPEY) Taps Into Vast Hydrocarbon Reserves

Galp Energia SGPS SA (GLPEY) , the Portuguese multinational energy company, has made significant oil discoveries in Namibia’s Orange Basin. It has completed the first phase of exploration of the Mopane field in the Petroleum Exploration License (PEL) 83 and estimated that the field could contain nearly 10 billion barrels of oil.PEL 83 is operated by Galp Energia, which owns an 80% stake along with its partners, National Petroleum Corporation of Namibia (NAMCOR) and Custos Energy, who hold 10% each. Sintana ...