Galp Energia

Regulatory Filings • Nov 18, 2015

Pitu North well confirms discovery of oil in the deepwaters of the Potiguar basin

Galp Energia informs about the results obtained during the drilling of the Pitu North extension well which confirmed the discovery of oil in Pitu area (Block BM-POT-17) in the deepwaters of the Potiguar basin. The discovery of oil in Pitu was initially communicated to the market on December 17, 2013.

The well 3-BRSA-1317-RNS, informally known as Pitu North, is the first well located within the Evaluation Plan of Pitu, approximately 60 km from the coast of Rio Grande do Norte state, and at a water depth of 1,844 metres (m), with total depth of 4,200 m.

The discovery was proved through profile analysis and pre-test results, with fluid samples obtained from the well to be subsequently submitted to laboratory analysis.

The consortium will continue with its activities as established in the Evaluation Plan approved by the National Petroleum, Natural Gas and Biofuels Agency (ANP).

Galp Energia, through its subsidiary Petrogal Brasil, owns a 20% stake in the consortium that explores Block BM-POT-17, with the remaining stakes being held by the operator Petrobras (40%) and BP (40%).

Galp Energia, SGPS, S.A. Investor Relations:

Pedro Dias, Head Otelo Ruivo, IRO Cátia Lopes João Pereira Joana Pereira Pedro Pinto

Contacts: Tel: +351 21 724 08 66 Fax: +351 21 724 29 65

Address: Rua Tomás da Fonseca, Torre A, 1600-209 Lisboa, Portugal Website: www.galpenergia.com Email:investor.relations@galpenergia.com

Reuters: GALP.LS Bloomberg: GALP PL

This announcement may include forward-looking statements. Forward-looking statements are statements other than in respect of historical facts and accordingly actual events or results may differ materially from those expressed or implied by such forward-looking statements. Important factors that may cause actual results to differ from forwardlooking statements are referred in the Annual Accounts Report of Galp Energia for the year ended 31 December 2014. Galp Energia does not intend to, and expressly disclaims any duty, undertaking or obligation to, make or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this announcement to reflect any change in events, conditions or circumstances.

Galp Energia, SGPS, S.A. | Public Company | Head Offices: Rua Tomás da Fonseca Torre C, 1600-209 Lisbon Share Capital: 829,250,635 Euros | Registered at the Commercial Registry Office of Lisbon | Company tax number 504 499 777