Galp Energia

Regulatory Filings • Jul 12, 2016

Start of production of FPSO Cidade de Saquarema (#6) in Lula/Iracema field

Galp, partner of the consortium for the development of block BM-S-11, informs that the FPSO Cidade de Saquarema started operations on the July 8.

This is the sixth permanent production unit allocated to the Lula/Iracema project, the second to start-up this year alone, and it will mark the beginning of commercial production of the Lula Central area, in the presalt Santos basin.

The FPSO Cidade de Saquarema has a capacity to process up to 150 thousand barrels of oil and 6 million m 3 of natural gas per day and has a storage capacity of 1.6 million of barrels of oil. This FPSO is anchored at a water depth of 2,120 metres, approximately 300 km off the coast, and will be connected to nine producer wells and nine injector wells.

The unit's commercial operation will benefit from the excellent reservoir's conditions existing in the Lula/Iracema field, which have been supporting outstanding productivities in all developed areas.

Galp, through its subsidiary Petrogal Brasil, owns a 10% stake in the consortium that explores Block BM-S-11, while Petrobras (operator) holds a 65% stake and BG E&P Brasil, subsidiary of Royal Dutch Shell, 25%.

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

Pedro Dias, Head Otelo Ruivo, IRO Cátia Lopes João G. Pereira João P. Pereira Teresa Rodrigues 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.galp.com Email:investor.relations@galpenergia.com

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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 forward-looking statements are referred in the Annual Accounts Report of Galp for the year ended 31 December 2015. Galp 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.