Galp Energia makes new discovery at Mopane-3X well

(Sharecast News) - Portuguese energy firm Galp Energia revealed on Tuesday that it has made a new discovery at its Mopane-3X well off the coast of Namibia. Galp Energia said preliminary results indicated significant light oil and gas-condensate columns in the AVO-10 prospect, as well as light oil columns in AVO-13 and deeper sand layers.

The Lisbon-based firm stated the reservoirs had been found in high-quality sandstones, with log data confirming strong porosity, high pressure, and good permeability.

Galp added that initial fluid samples showed low oil viscosity and minimal CO2 and H2S concentrations on blocks 2813A and 2814B under PEL 83, of which it holds an 80% stake.

As of 1000 GMT, Galp Energia shares were up 7.30% at €16.03 each.







Reporting by Iain Gilbert at Sharecast.com