Galp, Kosmos snag São Tomé block

São Tomé and Príncipe

SãO TOMé, October 28, 2015 – Galp Energia and its partner US exploration and production company Kosmos Energy snagged contracts for stakes in São Tomé and Príncipe’s block 6, the Portuguese oil and gas independent announced Tuesday.

Galp and Kosmos will each be given a 45-percent stake in the block with state-owned National Petroleum Agency owning the remaining 10 percent. Located offshore São Tomé and Príncipe, block 6 has water depths up to 2,500 metres and covers an area of 5,025 square kilometres.

After the completion of this deal, Galp will become the operator of the block.

This new agreement will allow both Galp and Kosmos to achieve their targets of increasing upstream activities.