Galp Energia: 10 Billion Barrel Oil Discovery Could Be A Game-Changer
Summary
- Galp Energia has low production costs and recently outlined a 10 billion barrel oil discovery offshore Namibia.
- Strong second quarter financial results with increased revenue, EBITDA, and net profit compared to last year.
- Near-term catalyst with the Bacalhau oil field set to start production in 2025 and potential for significant cash flow increase from new discoveries.
Ann: Quarterly Activities Report, page-15
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