Angola
In 2010, Galp Energia had a working interest average production of 17.8 thousand barrels per day, up by 28% over 2009. The CPT of the TL field, which had a working interest production close to 4,400 barrels per day, contributed to this increase. The BBLT field continued to be the most productive, with 11,5 thousand barrels of oil per day, accounting for 65% of total working interest production of Block 14.
In 2010, average net entitlement production reached 10,1 thousand barrels of oil per day, up 13% relative to 2009. This increase followed the positive trend in working interest production, although it was affected by the downfall of production in the BBLT and the Kuito fi elds, which was due to the production-sharing agreement (PSA) that characterises concession contracts in Angola.
Brazil
Production from Brazil (1,700 barrels per day in 2010) currently has little signifi cance, but the full development of the Lula and Cernambi area in the next few years will make Brazil the main source of Galp Energia’s production.