In executing its strategy, Galp Energia takes into account the importance that social, environmental and safety features have in the responsible and sustainable achievement of corporate targets. Galp Energia follows industry best practices, and innovates with particular emphasis on energy efficiency.
Thus, Galp Energia’s strategy rests on two fundamental and interdependent pillars: a solid capital structure, enabled by the Brazilian capital increase announced in 2011, and incremental cash flow, both from the upgraded refineries and from the development of its upstream projects in Angola and Brazil, particularly Lula and Cernambi.
Iberian downstream operations, which include refining and marketing of oil products and marketing gas, generate stable cash flow that significantly contributes to the funding of Galp Energia’s capital expenditure programme, particularly in the Exploration & Production business segment.
The future growth of the Company will come from the development of other projects in the Exploration & Production division, particularly, but not exclusively, in the Santos Basin, from the pipeline of high-potential projects still at an exploration stage, like Mozambique, and from the evaluation of new opportunities, which will allow to the production of oil and natural gas to growth to an estimated total of 300 kboepd in 2020.