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Galp Energia announces the financial close of the capital increase at Petrogal Brasil, fully subscribed to by Sinopec
Galp Energia and Sinopec successfully closed today the agreement announced in November 2011, related to the capital increase in Petrogal Brasil and other related entities, responsible for Galp Energia’s upstream activities in Brazil.

Mozambique Area 4 potential enhanced further with Mamba North East-1 results
Galp Energia, partner of the consortium for Area 4 in Rovuma basin, offshore Mozambique, announces a new giant natural gas discovery at the Mamba North East-1 exploration prospect. The results of this well, drilled in the Eastern part of Area 4, are of special importance since they increase the resource base of the reservoirs inside Area 4 by at least 10 trillion cubic feet (tcf), of which 8 tcf contained in reservoirs exclusively located in Area 4.

New well confirms oil presence in block BM-S-8
Galp Energia, partner of the consortium for the exploration of block BM-S-8, informs about the drilling of the well 4-SPS-86B (4-BRSA-971-SPS), informally known as Carcará, which is located in ultra-deep waters of pre-salt Santos basin, 232 km off the coast of São Paulo state.

Galp Energia announces extended well test in the Cernambi area, in Santos basin
Galp Energia, partner of the consortium for block BM-S-11, in ultra-deep water Santos basin, announces the start of an extended well test in the Cernambi area, with the FPSO BW Cidade de São Vicente. The FPSO was connected to the RJS-647 well, in water depths of 2,212 metres.

New well confirms presence of oil in block BM-S-8
Galp Energia, partner of the consortium for block BM-S-8 with Petrobras and Shell, informs about the conclusion of the drilling of the well 4-BRSA-946C-SPS, informally known as Biguá, which is located in block BM-S-8, in ultra-deep waters of pre-salt Santos Basin, 270 km off the coast of São Paulo state.

Galp Energia announces a partnership with Sinopec to jointly develop its Brazilian upstream portfolio, valued at $12.5 billion
Galp Energia and Sinopec have reached an agreement for the capital increase in Galp Energia’s Brazilian subsidiary, Petrogal Brasil. This agreement confirms Galp Energia as one of the most relevant upstream players in Brazil and ensures the development of the Company’s assets in this country, while establishing a partnership with Sinopec, a world class energy group.

Under the terms of the agreement, Sinopec will subscribe a $4.8 billion capital increase in Petrogal Brasil, and other related operational subsidiaries, valuing the existing Galp Energia’s Brazilian assets at an enterprise value of $12.5 billion at closing.
Upon completion of the transaction, Galp Energia will retain 70% ownership, remaining the controlling shareholder of that company, and thus continuing to full consolidate those assets, while Sinopec will hold the remaining 30% interest and, through board representation, will have an adequate involvement in Petrogal Brasil.

In addition, Sinopec will make a shareholder loan to Petrogal Brasil in the estimated amount of $390 million, which will be used to reimburse 30% of the loans to Galp Energia of $1.3 billion.

Lula-Mexilhão Gas Pipeline starts operation in Santos Basin
Petróleo Brasileiro S.A. – Petrobras announces that last Friday (9/16) the Lula-Mexilhão Gas Pipeline, which connects Lula field to the Mexilhão platform, started operation. With flow capacity of up to 10 million m3 per day, the gas pipeline will transport the gas produced by the Pre-Salt Region of Santos Basin.

First well in Lula field confirms high production potential
The P1 well, the first commercial production well at the pre-salt Santos Basin, in Lula field, has reached in May an average production of 28,436 barrels of oil per day (bpd), confirming the high potential of the Brazilian pre-salt reservoirs. Considering oil and natural gas, average production in May was 36,322 barrels of oil equivalent per day (boepd).

Eni: clarification on Galp Energia share
Following CONSOB (the Italian Stock Exchange Regulator) request and in relation to today’s reports on possible discussions between Eni and Petroleo Brasileiro S.A – Petrobras for the disposal of Eni’s share in Galp Energia, following the lock-in period which expired on Dec.31 Eni confirms that it is evaluating a number of options including opportunities with Petroleo Brasileiro S.A. – Petrobras.

Declaration of Commerciality for Tupi and Iracema areas
In accordance with the terms of article 248 of the Portuguese Securities Code, Galp Energia, SGPS, S.A. (Galp Energia) hereby discloses the following information: