East Timor: Portugal's Galp confirms interest in oil exploration, cooperation

Dili, Nov. 21 (Lusa) - Galp Energia CEO Fernando Gomes has confirmed that the Portuguese company is joining Brazil's Petrobrás to bid jointly for one of 11 deep-water offshore oil exploration blocks on auction by East Timor.

"Galp Energia is very interested in investing in East Timor" in response to the interest shown by Dili's authorities, Gomes told Lusa Saturday in the East Timorese capital.

Beyond the bidding consortium with Petrobrás, he said Galp also would provide training in Portugal for future staff of East Timor's fledgling national oil company and invest in a retail fuel distribution system in the island nation.

Gomes headed a Galp delegation that participated in an auction pre-qualification conference in Dili last week.

Galp has also indicated its interest in teaming up with Petrobrás and Angola's Sonangol in a four-way consortium for oil exploration in Sao Tome and Principe's Exclusive Economic Zone.

EL/SAS.

Lusa

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