Galp reports oil production spike
Galp Energia's average working-interest oil production jumped 62% year-on-year in the third quarter, driven by pre-salt fields in Brazil.
Output reached 74,000b/d, up from 45,700b/d a year earlier, the Portuguese company said in a bulletin on Friday.
Total oil product sales fell 2.4% to 4.7Mt while the volume of processed raw materials slipped 1.4% to 29.4Mboe.
The company's natural gas and power segment reported sales to direct clients totaling 950Mm3, up 1.8% on the year-ago period.
Galp said it would release its third quarter results on October 28.
The Lisbon-based firm has 27 exploration and production projects in Brazil out of a global total of 45.
Its portfolio includes a 10% stake in the Santos basin's pre-salt Lula field, which last year became Brazil's highest-producing area.
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