Galp targets renewable energy acquisitions and Brazilian oil expansion

Galp is pursuing strategic growth in both the renewable energy and fossil fuel sectors. In the renewables market, executive Georgios Papadimitriou indicated that the company views acquisitions and alliances as a natural path for expansion to achieve necessary scale, though no specific processes are currently underway. Additionally, Galp is developing proprietary energy management systems for batteries to offer to third parties.

In Brazil, Galp is targeting expansion in new frontiers, specifically the Pelotas Basin and the Equatorial Margin. Paula Pereira da Silva, Galp’s Country Manager in Brazil, highlighted the company's focus on three pillars: increasing recovery factors in the Tupi-Iracema field within the Santos Basin, developing the Jupiter discovery, and general exploration. The company currently holds interests in several concessions in partnership with Petrobras and Shell.