One-Page Deal Sheet
Galp Takes Over Portuguese Operatorship from Porto Energy
Petrogal, S.A. Porto Energy
Announced Date
June 07,2013
Close Date
June 07,2013
Transaction Type
Farm-In/Farm Out
Asset/Basin:
{"Lusitanian Basin"}
TargetZones:
{"Alcoba??a pre-salt
Location
Country
Portugal
Transaction Details: Subscribe to see
Porto Energy Corp, a company focused on oil and gas exploration, appraisal and development in Portugal, today announced that its joint venture partner in the Aljubarrota-3 concession, Petróleos de Portugal - Petrogal, S.A. ("Galp"), has exercised its option to become the operator of the concession, pursuant to the terms of the definitive farmout agreement signed by the two companies in June 2012. Assignment of operatorship is subject to approval by the Portugese government department, Direco Geral de Energia e Geologia ("DGEG").
"Galp's exercise of their option to operate the Aljubarrota-3…
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