The Galp Energia group of companies is unparalleled in Portugal. The companies that compose it have, by creating and exploiting new opportunities, contributed to Galp Energia's current status as an integrated multi-energy operator. Galp Energia's diversified business portfolio reflects the multiple skills it has developed over time.
The origins of Galp Energia, under a different name at the time, date back to 18th century. In 1780, Lisbon began to be lit by the first olive oil-fired lamps. From olive oil to coal, from gas-fired lighting to petroleum and natural gas, many years elapsed of technical, economic and social development. Just as these new sources of energy developed, several companies - CRGE, Sonap, Sacor, Cidla, SPP and Petrosul - were born that eventually defined the path of the Portuguese energy sector and later gave rise to Galp Energia.
Galp Energia was established on 22 April 1999 under the name of GALP - Petróleos e Gás de Portugal, SGPS, S.A. for the purpose of operating in the oil and natural gas businesses after the Portuguese energy sector was restructured. Galp Energia combined Petrogal, Portugal's sole refiner and the main distributor of oil products, and Gás de Portugal, the company importing natural gas into Portugal and transporting and distributing it domestically.
Milestones in the history of Galp Energia
The first refinery in Portugal opens
In 1940, SACOR opened the first Portuguese refinery just outside Lisbon with a capacity to supply 50% of market needs by producing close to 300 thousand tonnes/year. Following the launch of the Sines industrial compound in 1971, SONAP-CUF (Petrosul) was awarded the construction of a refinery and a petrochemical plant.
Exploration and production starts
In 1977, Petrogal set up a research and production department for the purpose of entering into concession areas in the Portuguese onshore and appraising opportunities in oil research in Angola.
The Galp brand is launched
In 1976, Petrogal set out to define the brand and the corporate symbol. The Galp trademark was chosen and the G symbol was launched in 1978.
The Portuguese natural gas market is set up
In 1989, following the overhaul of Portugal's energy policy, GDP - Gás de Portugal, SA is set up with a mission to supply natural gas to the country. The project starts in 1994 with the construction of the 350km-long high-pressure gas pipeline trunk between Setúbal and Braga.
Galp Energia is formed
In 1999, Galp Energia, a company wholly owned by the Portuguese state, is set up to combine the businesses of Petrogal and GDP and operate as the vehicle for restructuring the Portuguese oil and natural gas sectors. In the same year, Galp Energia starts to be privatised as new shares in the Company are sold to Petrocontrol, EDP, Caixa Geral de Depósitos, Portgás and Setgás.
Galp Energia participates in the largest oil discovery in the last 30 years
In 2007, recoverable volumes from the Tupi discovery in the Santos Basin's block BM-S-11 in Brazil are confirmed to range between 5 and 8 billion boe of oil and natural gas, turning this discovery into the largest in the last thirty years. Galp Energia has a stake of 10% in the consortium exploring the block where the operator Petrobras has 65% and the BG Group has 25%.
Commercial production starts in Lula and Cernambi
In December 2010, the contractor group, including Galp Energia, Petrobras and BG Group, filled th declaration of commerciality of the light oil and gas accumulations in the Lula and Cernambi fields. The total recoverable volumes from these fields are 8.3 billion boe. The development of the Lula/Cernambi area will be executed according to best practice, rigorously complying with regulations applicable to operational and environmental safety planning.