Galp Aims to Boost Brazilian Oil Production by 40% with New Bacalhau Field

Galp, a Portuguese energy company, expects to increase oil and gas production in Brazil by around 40% in the coming years, with the new Bacalhau offshore field reaching its peak production. The company produces 110,000 barrels of oil equivalent per day (boepd) in Brazil through a 70-30 joint venture with Sinopec. The Bacalhau field, operated by Equinor, is expected to start producing in Q3, with a daily capacity of 220,000 barrels.