Galp, ENI Give Up On Drilling for Oil Near Portuguese Coast

Posted by Michelle Howard
Monday, October 29, 2018

Portugal's Galp Energia and its Italian partner ENI have abandoned plans to drill Portugal's first deep-water offshore exploration well due to legal problems after injunctions and protests by environmental activists.

The project was being prepared by the consortium off the Alentejo region's Vicentine coast, known for its beaches and large natural park.

"As for Portugal, we've decided to abandon the exploration," Galp CEO Gomes da Silva told a conference call with analysts while presenting third-quarter results and an improved full-year outlook..

In a separate statement, Galp and ENI said several judicial proceedings regarding the project made it impossible to continue the exploration activities, adding that they "regret being unable to assess the potential offshore resources of the country".

In July, Galp exploration and production director Thore Kristiansen said the consortium had only modest hopes of success, but the project looked "interesting enough so that we at least have to try".

The Portuguese Environmental Agency in May allowed the drilling to be carried out between Sept. 15, 2018 and Jan. 15, 2019, but set various conditions that the partners had been trying to meet.

In August, a local court accepted an injunction filed by environmental activists, effectively suspending the exploration.


(Reporting By Andrei Khalip)

Categories: Drilling Deepwater Environmental Legal Offshore Energy Europe Activity

Related Stories

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

US Pressure on India Could Propel Russia's Shadow Oil Exports

ABL Secures Rig Moving Assignment with India's ONGC

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Vietsovpetro Brings BK-24 Oil Platform Online Two Months Early

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

Petronas to Leverage AI to Expedite Oil and Gas Exploration Activities

Saipem Bags $1.5B Contract for Türkiye Largest Offshore Gas Field

Norwegian Oil Investment Will Peak in '25

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Current News

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Pakistan, Türkiye Deepen Oil and Gas Ties with Offshore Indus-C Block Deal

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com