Galp is considering a return to oil exploration and production activities in Angola and is analyzing opportunities in the country, but has not yet made any concrete decision, the company’s co-CEOs told Lusa today.
“The possibility of us returning to Angola exists. However, there is no concrete decision made that we can share at this moment,” stated co-CEO João Diogo Marques da Silva during a telephone conversation with Lusa following the presentation of the company’s first-half results.
The Portuguese oil company sold its exploration and production assets in Angola in 2024, although it maintains operations in the country’s fuel distribution and marketing segment.
João Diogo Marques da Silva confirmed that the company is surveying existing opportunities, noting that Galp knows the Angolan market well and maintains good relationships with local authorities and the state-owned oil company, Sonangol.
“It is indeed a country we know well, because we were present there for several years. In fact, our exploration activities began in Angola many years ago, so we feel comfortable with the region,” he added.
Co-CEO Maria João Carioca explained that Galp regularly analyzes assets that could allow the company to maintain its current levels of growth and oil and gas production.
The company is particularly focused on the South Atlantic Basin, a geographic area that includes Angola and where Galp already possesses experience and historical ties.
“Angola falls within that geographic scope, and we do indeed have a historical relationship, a partnership, and close ties with Angola,” she stated.
According to the executive, any potential investment would need to be compatible with Galp’s financial situation and align with the company’s strategic priorities.
Maria João Carioca explained that the analysis is not limited to Angola but also covers other regions where Galp is already present, specifically Cape Verde and São Tomé and Príncipe. The executive highlighted that the company maintains a diversified portfolio across countries—with exploration and production activities in some markets and refining, distribution, and marketing in others—which it evaluates based on business priorities.
