In 2012, Galp signed a farm-in agreement for entering into petroleum exploration licenses offshore Namibia, namely PEL 23 in the Walvis basin, and PEL 28 in the Orange basin.
As part of the exploration campaign three wells were drilled during 2013, of which two in the Walvis basin and one in the Orange basin, although none of the wells resulted in a commercial discovery.
In 2016, Galp signed with the Namibian government two concessions contracts to obtain new exploration licenses in these offshore areas - blocks 2112B and 2212A, formerly PEL 23 in the Walves basin, and blocks 2813A and 2814B, formerly PEL 28 in the Orange basin.
Regarding the new licenses, Galp assumed the operatorship with a 80% stake in both concessions. The Company’s partners in this project are the National Petroleum Corporation of Namibia (NAMCOR) and Custos, a local Namibian company, each with a 10% stake.
These concessions cover a total area of c.20,000 km2 and are located in emerging areas where the presence of hydrocarbons has already been proved.