These agreements follow the memorandum of understanding signed in Lisbon in October 2007 by the two companies for the development of joint projects in the energy sector and for forms of co-operation between the two companies including the possibility to develop exploration, production and marketing of oil and gas.
These agreements emphasize Galp Energia’s willingness to identify and develop partnerships with Petroleos de Venezuela (PDVSA) and economical relations with Venezuela, positioning this country as a relevant player in Galp Energia’s internationalization plan in the exploration and production area, jointly with the operations under way in Angola and Brazil.
The co-operation agreements include: agreement for acquisition of crude oil, agreements for the development of two natural gas liquefaction projects, agreement for the joint study of Block Boyaca 6 at Orinoco Oil Belt and memorandum of understanding for the development of wind farms.
