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2015
ENERGY
EXPLORATION
REFINING
PRODUCTION
GAS & POWER
1E n e r g y
EXPLORATION & PRODUCTIONREFINING AND DISTRIBUTION
GAS & POWER
Amorim Energia steers the course of GalpThe Américo Amorim Group holds the majority of the share capital of Amorim Energia, which holds, in turn, a 38.34% stake in Galp Energia, SGPS, S.A.This shareholding in the energy sector is considered strategic for the Group, taking into account the relevance of Galp for the Portuguese economy and the Portuguese energy sector in particular. Galp is a significant integrated energy operator of the Iberian Peninsula, with particular focus on the areas of exploration and production in various countries.
ENERGY
2 E n e r g y
> Investments focused on oil and natural gas E&P> Forecast of average annual growth rate (CAGR) of EBITDA of around 15% up to 2020> Commitment to maintaining a solid capital structure > Commitment to sustainability and responsible practices
Market capitalisation
€8,890 million
2C Contingent Resources
1,343 mmboe
€15,517 million
Turnover
Processed raw materials
114,572 kboe
€639 million
Net profit RCA
Servicestations
1,435
6,792
Total Workforce
Natural gas and LNG sales
7.7 bcm
701 mmboe
2PReserves
Sales of Electricity
(total)
4,636 GWh
PERSISTING WITH THE STRATEGY. STRENGTHEN INTEGRATED ENERGY COMPANY PROFILE.
3E n e r g y
4 E n e r g y
Exploration and Production 2013 2014 2015
2P Reserves (mmboe) 579 638 701
3C Contingent Resources (mmboe) 1,853 1,672 1,343
Working interest Average production (kboepd) 24.5 30.5 45.8
Net entitlement average production (kboepd) 20.8 27.1 43.2
> Average sales price ($/boe): 100.8 88.7 43.5
Refining and Distribution
Processed raw materials (kboe) 101,554 92,864 114,572
Refining margins ($/bbl) 2.2 2.8 6
Sales to direct customers (mt) 9.5 9.1 9.1
Number of Service Stations 1,435 1,449 1,435
Gas & Power
Natural gas sales to direct customers (mm3) 4,056 3,759 3,843
NG/LNG trading sales (mm3) 3,034 3,713 3,822
Distribution network of Natural Gas (km) 12,159 12,348 12,533
Sales of Electricity (Total - GWh) 3,647 3,792 4,636
> Strong international activity, a determining factor for results > More production and better refining margins > Maturation of Exploration and Production Portfolio> Downstream & Gas: a solid performance > Financial Capacity for Growth Programme
MAIN INDICATORS
INVESTMENT PROFILE(EUR 1.283 BN)
Exploration & Production (E&P)Refining & Distribution (R&M)Gas & Power (G&P)Others
EBITDA (EUR 1.564 BN)
Exploration & Production (E&P) Refining & Distribution (R&M) Gas & Power (G&P)
* RCA= Replacement cost adjusted** WI= working interest
GALP IN 2015
5E n e r g y
GALP, THE WORLD’S BEST COMPANY OF THE OIL & GAS SECTOR ON THE LIST OF GLOBAL 100 MOST SUSTAINABLE CORPORATIONS IN THE WORLD
Galp was considered the 16th most sustainable company in the world and the first of the Oil & Gas sector on the annual sustainability ranking of Global 100 Most Sustainable Corpo-rations in the World.The 2016 ranking encompasses companies of 21 countries with stock prices over two billion dollars. Galp is the only Por-tuguese company on the list.The good sustainability practices of Galp are the basis too for its inclusion on the Dow Jones Sustainability Index, the FTSE4 Good Index and the CDP - Driving Sustainable Economies.
* RCA= Replacement cost adjusted** WI= working interest
6 E n e r g y
GALP IN THE WORLD
Brazil> Oil and natural gas exploration and
production> Biofuel projects
Angola> Oil exploration and
production> Natural gas project > Service stations (GLP)
Nigeria and Algeria> Acquisition of natural gas
USA> Export of
refined products
Namibia> Oil exploration
São Tomé and Príncipe> Oil exploration
Iberian Peninsula> Refining operations> Refined products distribution
and commercialization> Natural gas distribution > Oil exploration and production
projects> Wind farms
7E n e r g y
EXPLORATION & PRODUCTION
OILDISTRIBUTION
REFINING
Middle East> One of the main trading sales targets> Total trading sales of 3.8bcm in 2015
Europe > Export of refined products> NG sales (network trading)
East Timor > Oil exploration
Mozambique > LNG projects> Service Stations (LPG)
African countries(Cape Verde, Guinea-Bissau, Gambia; Malawi, Swaziland)> Service stations (GLP)
West Africa; North Africa; Middle East; South America;
former USSR:Import of crude.
São Tomé and Príncipe> Oil exploration
GAS & POWER
8 E n e r g y
9E n e r g y
Key Indicators 2015:> Working interest average production (kboepd) 45.8> Net entitlement average production (kboepd) 43.2> Average sales price ($/boe): 43.5> Depreciation ($/boe): 14.8> Ebitda RCA: €356m> Ebit RCA: €145m> Investment: €1,103m
EXPLORATION& PRODUCTION
1 0 E n e r g y
STAKE IN EXPLORATIONAND PRODUCTIONBLOCKS
BRAZIL(27 projects)> Oil and natural
gas exploration and production; Offshore and onshore zones
> Biofuels
E&P PORTFOLIOAn Exploration and Production Project Portfolio spread across several continents, with special concentration in Brazil, Angola and Mozambique.
WORKING INTEREST AVERAGE PRODUCTION (KBOEPD)
24.4 24.5
2P RESERVES
638701
579640
20142012 2013
2C CONTINGENT RESOURCES
1,6721,853
1,583
20142012 2013
RESERVES AND RESOURCES (MBOE) > 2015 values
30.5
48.8
1,343
2015
20142012 2013
2015
2015
1Q15 2Q15 3Q15 4Q15
1 1E n e r g y
MOZAMBIQUE (2 projects)> LNG projects
ANGOLA (12 projects)> Oil exploration and production > Natural gas exploration
TIMOR(1 project)> Oil exploration
IBERIAN PENINSULA(7 projects)> Oil exploration> Peniche Basin> The Alentejo Basin
NAMIBIA(2 projects)> Oil exploration
Core areas
Potential areas
WORKING INTEREST PRODUCTION IN 2015(kboepd)
S. TOMÉ E PRÍNCIPE(1 project)> Oil exploration
Angola
FPSO#1 Lula Pilot
FPSO#2 Lula NE
FPSO#3 Iracema Sul
FPSO#4 Iracema Norte
Others
41.5 43.8 45.752.1
1 2 E n e r g y
1 3E n e r g y
> Operating in 27 projects spread over 4 basins;
> Focus on offshore projects, with special emphasis on the Santos Basin
> Operation of several onshore blocks in the Potiguar and Sergipe-Alagoas basins
E&P ACTIVITIES IN BRAZIL
1 4 E n e r g y
OFFSHOREEXPLORATIONGALP’S OPERATIONS IN BRAZIL ARE CENTRED ON OFFSHORE EXPLORATION.
Brazil
POT-M-853
POT-M-855POT-M-760
POT-M-665POT-M-663
Galp stake: 20%
POTIGUAR BASIN
SANTOS BASIN
BM-S-11
BM-S-24
BM-S-8
> BM-S-8 (Galp stake: 14%)> BM-S-11 (Galp stake: 10%)> BM-S-24 (Galp stake: 20%)
Galp stake: 20%
PERNAMBUCO-PARAÍBA BASIN
ES-M-592
BARREIRINHAS BASIN
PERNAMBUCO-PARAÍBA BASIN
POTIGUAR BASIN
SANTOS BASIN
PEPB-M-783
PEPB-M-839
PEPB-M-837
1 5E n e r g y
UNITS IN PRODUCTIONIN THE PRE-SALT LAYER OF THE SANTOS BASIN - BLOCK BM-S-11There are already 5 production units assigned to the exploration of the Lula-Iracema field. The production start-up of another unit is planned for the 2nd half of 2016, the FPSO Cidade de Saquarema.
FPSO CIDADE ANGRA DOS REIS> Distance from coast: 300 km> Water depth: 2,140 metres> Maximum capacity of oil processing: 100,000 barrels/day.> Maximum capacity of gas compression: 5 billion m3/day> 1st oil: December 2010
FPSO CIDADE PARATY> Distance from coast: 300 km> Water depth: 2,120 metres> Maximum capacity of oil processing: 120,000 barrels/day.> Maximum capacity of gas processing: 5 billion m3/day> 1st oil: July 2013
FPSO CIDADE DE MANGARATIBA> Distance from coast: 240 Km Water depth: 2,200 metres > Maximum capacity of oil processing: 150,000 barrels/day. > Maximum capacity of gas processing: 8 billion m3/day> Maximum capacity of oil storage: 1.6 million barrels (bbl) > 1st oil: October 2014
FPSO CIDADE DE ITAGUAÍ> Location: 240 Km from coast Water depth: 2,200 metres > Maximum capacity of oil processing: 150,000 barrels/day > Maximum capacity of gas compression: 8 billion m3/day > Maximum capacity of oil storage: 1.6 million barrels (bbl) > Accommodation: 150 people > 1st oil: July 2015
FPSO CIDADE DE MARICÁ> Location: 300 Km from coast Water depth: 2,200 metres > Maximum capacity of oil processing: 150,000 barrels/day > Maximum capacity of gas compression: 6 billion m3/day > Maximum capacity of oil storage: 1.6 million barrels (bbl) > 1st oil: February 2016
RS
SP
São Paulo
Florianópolis
Porto Alegre
1 6 E n e r g y
Reservoir rock of oil and natural gas
of the pre-salt layer
Ocean
Post-saltlayer
Post-saltlayer
Post-saltlayer
2140 metres
0 (sea level)
5500 metres
3500 metres
The oil is stored in the pores of the
reservoir rock at a depth of
between 5 and 7 km.
SANTOS BASIN PRE-SALTLAYER CLUSTER
200 km290 km
MG
RJ
ES
BM-S-8Galp14%
Carcará
Lula
Iracema
Berbigão / Sururu / Atapú
Júpiter
Sépia Leste
BM-S-24Galp20%
BM-S-11Galp10%
Rio de Janeiro
1 7E n e r g y
> Area with over 110,000 Km2
> The largest known accumulation of oil and gas in ultra-deep waters
> Galp is operating in 4 blocks. It is the second largest company in terms of number of assets in this basin
> 50 billion boe of reserves, according to ANP (Brazilian National Agency of Petroleum, Natural Gas and Biofuels)
*
**
1 8 E n e r g y
The Lula/Iracema field in Block BM-S-11, where Galp holds a 10% stake, is one of the most developed projects, since activities in 2015 exceeded initial expectations.
LULA/IRACEMAPERFORMANCE ABOVE EXPECTATIONS
FPSO CIDADE ANGRA DOS REIS > Production at a plateau since June 2012> Installed capacity of 10 Kbopd for Galp
FPSO CIDADE PARATY> Production at a plateau since September 2012> Installed capacity of 12 Kbopd for Galp
FPSO CIDADE MANGARATIBA> Production at a plateau since November 2012> Installed capacity of 15 Kbopd for Galp
FPSO CIDADE ITAGUAÍ> Operating since July 2015, three months
ahead of schedule> Installed capacity of 15 Kbopd for Galp
IRACEMA NORTH 2015
IRACEMA SOUTH 2014
LULA WEST 2020
LULA PILOT 2010
LULA EXT. SOUTH 2017
LULA PILOT 2010PPSA**
LULA SOUTH 2016
TUPI SOUTH*
LULA CENTRAL 2016
LULA ALTO 2016
LULA NE 2013
LULA NORTH 2016
IRACEMA
LULA
Operating unit
Sanctioned unit
Unit to be awarded
Usable area
Onerous transfer
Pré-Sal Petróleo S.A.
1 9E n e r g y
The Cidade de Itaguaí FPSO started production in 2015, three months ahead of schedule, having already 3 wells connected in Iracema Norte and 14 wells already drilled.
This unit has an installed capacity of 150,000 barrels of oil equivalent per day.
CIDADE ITAGUAÍ FPSO BEGINS PRODUCTION 3 MONTHS AHEAD OF SCHEDULE
CIDADE DE MARICÁ FPSO> In production since February 2016> Processing capacity of 150,000 barrels of
oil equivalent per day and gas compression capacity of 6 million m3/day.
CIDADE DE SAQUAREMA FPSO > At Brasa Shipyard, in Brazil> Should go into production in the Lula Central
area in mid-2016
AN FPSO STARTED PRODUCING IN THE 1ST HALF OF 2016. THE OTHER WILL START IN THE MIDDLE OF THE YEAR
10 km 25 km 10 km
2 0 E n e r g y
BM-S-11BERBIGÃO/SURURU/ATAPÚ
> Development plans for the Atapú, Berbigão and Sururu fields
> Two replicant FPSOs: Atapú Sul and Berbigão/Sururu during 2018.
> A third FPSO whose location depends on further technical assessment.
The fields are located between 214 and 250 Km off the coast of Rio de Janeiro, at water depths of 2,215 and 2,270 metres and contain high quality light oil, with an API density from 24 to 30 degrees.
BM-S-8CARCARÁ
> Carcará Noroeste evaluation well was completed successfully, confirming the extent of the light oil discovery
> Formation tests (DST) were performed during the second half of 2015
> The Declaration of Commercial Viability will be submitted in 2018.
Galp, through its subsidiary Petrogal Brasil, holds a 14% stake in the consortium that explores the BM-S-8.
BM-S-24JÚPITER
> The Declaration of Commercial Viability for the Sépia East area was submitted and negotiations for unitisation began.
> The Development Plan for Sépia area will be submitted in 2016 and the first oil produced in 2020.
> Extension of the Declaration of Commercial Viability for 5 years.
Sépia Discovery Located in the north west of Jupiter, the field called Sépia extends to the Sépia East area (belonging to the BM-S-24 concession), having confirmed the existence of reservoirs with excellent porosity and permeability characteristics and high quality oil.Galp, through its subsidiary Petrogal Brasil, holds a 20% stake in the consortium that explores BM-S-24.
Entorno de IaraFPSO
Iara
BerbigãoAtapúSururu
Júpiter
Júpiter NE
Sépia
Onerous transfer
Discovery of hydrocarbon
Discovery of hydrocarbon
Sépia East Area
Carcará NW Carcará North
Carcará
Operator: PetrobrasOperator: Petrobras Operator: Petrobras
Bracuhy
ApolóniaGalp stake: 10% Galp stake:20% Galp stake: 14%
663665
760
853 855
764
25 km
2 1E n e r g y
The drilling of the Pitú North well, the 1st extension well in the Pitú Evaluation area, confirmed the discovery of oil in deep waters of the Potiguar Basin.
Well 3-BRSA-1317-RNS, known as Pitú North, is located60 km from the Rio Grande do Norte state coast, at a water depth of 1.844m and with a final depth of 4,200 m.
The consortium which operates BM-POT-17, in which Galp Energia, through its subsidiary Petrogal Brasil, holds 20%, will continue the operations as set out in the Discovery Evaluation Plan approved by the National Petroleum Agency.
NORTH PITÚ WELL DISCOVERY OF OIL IN THE DEEP WATERS OF THE POTIGUAR BASIN
POT-M-764-R11Drilled well
BM-POT-16BM-POT-17
Tango
Araraúna
Pitú
Pitú North
B R A Z I L
Operator: Petrobras
Galp stake: 20%
2 2 E n e r g y
E&P ACTIVITIES IN ANGOLAGalp is present in Angola with 5 projects underway. Its medium and long term prospects are very promising, and Angola is an increasingly important country in Galp's strategy.
10 km10 km
2 3E n e r g y
ANGOLA
WI Production: 9,8 KboepdNE Production: 7,2 Kboepd
WI - Working Interest NE - Net Entitlement
CONGO
CONGO BASIN
ANGOLA
ATLANTIC OCEAN
LUANDA
No
rthw
est
Dee
pw
ater
Dee
pw
ater
Kw
anza
Fields in production
Areas in development
Areas in development
Block 32
Lianzi(14K)
BBLT
Kuito
Malange
Gabela
Lucapa
Negage Menongue
Tômbua- Lândana
Operator: Chevron
BLOCK 14 - Galp stake: 9%
BLOCK 14K - Galp stake: 4,5%
BLOCK 32 - Galp stake: 5%
Caril
Gengibre
Gindungo
Canela
Mostarda
LouroSalsa
Operator: Total
Kuito
BBLT
Lucapa
LandanaTômbua
Menongue
Gabela
Lianzi
NegageMalange
2 4 E n e r g y
In Angola, Galp´s portfolio continues to present potential for the development of new fields, which should partially offset the decline of the fields currently in production in Block 14.
Highlight for the start of production in the new field of Block 14k, Lianzi field, which started production in the fourth quarter of 2015.
LIANZIFirst area of common interest, between Angola and the Republic of Congo.Technical features:direct electric heating, underwater sampling; multiphase underwater measurement.
BLOCK 14 AND 14K
Malange Production Wells
600m
500m
400m
300m
200m
100m
0m
145 m
320 m
452 m
474 m508 m
2 5E n e r g y
TÔMBUA-LÂNDANA
The 425 Km2 field is located in deep water and supports one of the most daring engineering projects in the history of oil exploration, using a tower with flexible pillars (CPT), 474 m high and weighing 79,000 tonnes.
IMPORTANT PROJECT DATA:
Processing capacity:> 130,000 barrels of oil per day;> 210.000.000 ft3 of gas per day;> 210,000 barrels per day of water
injection capacity.
BBLT> The development of this award-winning
project is based on: 1 CPT (Compliant Piled Tower); 3 underwater centres; 34 production wells and 17 water injection wells.
PROCESSING CAPACITY:> 225,000 barrels of oil per day;> 475.000.000 ft3 of gas per day;> 420,000 barrels per day of water injection
capacity.
KUITO> The development of this successful project, the first deep water project in Angola, was based on: 1 FPSO,
3 underwater centres; 22 production wells; 6 water injection wells and 1 gas injection well. > Project acceleration was achieved in stages.> Successful upgrades using the ship on station.> The FPSO was decommissioned in 2013 and it currently produces through a tie-back to the CPT in the
BBLT field.
"A" Drilling Centre
"C" Drilling Centre"B" Drilling
Centre
TS-DC
Tômbua-LândanaUnderwater tieback FEED
ExportTL DPP
Taipei 101TaipeiChina
Petronas Tower
Kuala LumpurMalaysia
Eiffel TowerParis
France
Vasco da GamaTowerLisbon
Portugal
CPT ofTômbua--Lândana
ft3 = cubic feet.
Alho
Colorau
Cominhos
Cola
CarilGindungo
GengibreCanela
Mostarda
Louro
Salsa
20 km
KAOMBO
Manjericão
10 km
2 6 E n e r g y
> Galp has a 5% stake in the consortium of Block 32 and 5.33% in Block 33.
> 21 discoveries in 26 wells drilled in the 12 development areas.
> Total surface area of 1,159 km2.> Split hub concept for the development
of the Kaombo area. > 2 FPSO support 6 development areas
with a combined capacity of 2x125 kbopd.
> First oil expected for 2017 in the first FPSO (Kaombo North) and for 2018 in the second FPSO (Kaombo South).
KAOMBO PROJECT IN BLOCK 32
The Kaombo project is located 260 km offshore of Luanda, in waters with a depth between 1,400 and 1,900 metres and will develop six of the 12 discoveries already made in Block 32. The six fields (Gengibre, Gindungo, Caril, Canela, Mostarda and Louro) cover an area of 640 km² in the southeast zone of the block.It is expected that investment in the development of the Kaombo project until production peak is USD 18 billion. Production start up is planned for 2017.The development will contemplate 59 underwater wells connected to two production, storage and offloading units (FPSO) through underwater lines about 300 km long. Each FPSO will have a 125,000 barrels per day production capacity and will be converted into units of production from large tankers. The associated gas will be exported to the LNG unit in the onshore Angola area.
BLOCK 32
NORTHEASTCENTRAL
Caril
Caril
Gengibre
Gindungo
Canela
Mostarda
LouroSalsa
Gengibre
Gindungo
Mostarda
CanelaLouro
Galp stake: 5%
Operator: Total
Galp stake: 5%
Block 32
Areas in development
2 7E n e r g y
The deepwater Project of the Rovuma basin, 2,000 km north of Maputo, has been one of the priorities of Galp.The discoveries made in area 4 position Mozambique as one of the world's most important areas for the production of natural gas.In relation to the onshore LNG CORAL FLNG and Mamba development projects, Galp integrated several of its technical staff in the FEED development teams, endeavouring to be an active partner in its non-operated projects.
The excellent location of the exploration project in the Rovuma Basin enhances the dynamics of LNG sales in the Asia and Europe markets. Sufficient gas for various sales options, such as onshore LNG, FLNG and GTL.
MOZAMBIQUE: POSSIBLE LNG ROUTE
ROVUMA: WORLD CLASS NATURAL GAS EXPLORATION PROJECT
E&P ACTIVITIES IN MOZAMBIQUE
TANZANIA
MOZAMBIQUE
ROVUMAAREA 4Mozambique
Maputo
2 8 E n e r g y
Galp is the Operator of Block 6 of the São Tome and Principe offshore, with a 45% stake. Also participating in the exploration of the Block are Kosmos (45%) and ANP (10%).Block 6 is located at a depth of 2,500 metres and covers an area of 5,024 km2.
GALP, OPERATOR IN BLOCK 6
PROVEN OILPOTENTIAL
Galp owns 2 projects located in the Namibia offshore: PEL 23, in the Walvis basin and PEL 28, in the Orange basin.These basins are located in areas considered as the "new frontier" in an emerging hydrocarbon province with potential for significant discoveries of oil and natural gas.
SÃO TOMÉ AND PRÍNCIPEGALP IN
NAMIBIAGALP IN
Galp Energia Blocks
PEL23
PEL28
Operator: Galp
Galp stake: 45%
Block 6
Equatorial Guinea
São Tomé and Príncipe
A F R I C A
Gabon
Namibia
Namibia
Galp has a 10% stake in a consortium for the exploration of 1 block with a total area of 8,595 Km2, situated at a depth of 2,000 metres.
GALP IN
TIMOR
2 9E n e r g y
E&P operations of Galp in Portugal are focused on two concession contracts with the Portuguese government to explore seven blocks, divided into two basins: Peniche basin and Alentejo basin.
PENICHE BASIN> Consortium: Galp (30.0%), Repsol (Operator,
operator (34.0%), Kosmos Energy (31%) and Partex (5.0%).
> Area: 12,159 km2.
> Type: Ultra-deep waters.
> Water depth: 200 – 3,500 m.
> No. blocks: 4
ALENTEJO BASIN> Consortium: Galp (30.0%), Eni (Operator, 70%)
> Area: 9,099 km2.
> Type: Ultra-deep waters.
> Water depth: 200 – 3,000 m.
> No. blocks: 3
The operation of the Alentejo basin blocks is exercised by ENI, which holds a 70% stake in the basin after the farm-in that took place in December 2014, while Galp holds 30%.In the 4 blocks of the Peniche basin, of note is the farm-in of Kosmos Energy, which acquired a 31% stake.
E&P ACTIVITIES IN PORTUGAL
Camarão
Amêijoa
Ostra
Mexilhão
Santola
Gamba
Lavagante
CaboS. Vicente
Sines
Peniche
PORTUGAL
Figueira da Foz
Lisboa
Porto
REFINING & DISTRIBUTIONKey Indicators 2015:> Processed raw materials: 114,572 Kboe> Galp Refining margins ($/bbl) 6.0> Export of refined products (mt): 18.6> Sales to direct customers (mt): 9.1> Ebitda RCA: €800m> Ebit: €526m> Investment: €110m
3 2 E n e r g y
Galp is the only refiner in Portugal, with two refineries, Sines and Matosinhos, with a combined refining capacity of 330,000 barrels of crude per day.The Sines refinery in the south of Portugal is one of the largest in the Iberian Peninsula, accounting for 70% of the total refining capacity in Portugal.The Matosinhos refinery, in North Portugal, is a refinery of specialities with a production capacity of a variety of derivatives and aromatics for various types of industries.
The strategic objectives of Galp for the Refining & Distribution activity are as follows:> Integrate the refining and distribution activities, aligning the profile and
volume of production with the profile and sales.> Focus on energy efficiency and procedural optimization of the refining
system, reinforcing the reduction of costs and capital employed.> Ensure the competitiveness of petroleum products distribution operations
in the Iberian Peninsula.> Increase sales in international markets, benefiting in particular from the
expected growth of the African market.> Maximize cash flow generation and its allocation to the growing
businesses of the Company.
REFINING & DISTRIBUTION BUSINESS STRATEGY
3 3E n e r g y
3 4 E n e r g y
3 5E n e r g y
Through the network of about 1,435 service stations in Portugal, Spain and Africa, the retail area accounts for about 30% of sales to direct clients of Galp Energia. Market share in the retail market is about 30% in Portugal and about 5% in the Spanish market. In Africa, Galp has more than 138 filling stations. Total sales to direct clients was 9.1 mton, including retail companies, wholesalers and LPG in the Iberian Peninsula and in some African countries.
Service stations
> Geographical distribution with balanced exposure throughout the territory of the Iberian Peninsula.
> Greater integration of the businesses is a shield for volatility in refining margins.
GALP ENERGIA, LEADING DISTRIBUTOR OF OIL PRODUCTS IN PORTUGAL RETAIL, WHOLESALE AND LPG SEGMENTS
3 6 E n e r g y
Galp operates in the oil products distribution market in Africa, from three development centres: West Africa, which includes Cape Verde, Gambia and Guinea-Bissau; Southern Africa - Indian Ocean, which includes Mozambique and Swaziland, and Southern Africa-Atlantic Ocean, which covers Angola.
DISTRIBUTION IN AFRICA
ANGOLA MOZAMBIQUE
GUINÉ-BISSAU
CAPE VERDE
SWAZILAND
GAMBIA ÁFRICA
Servicestationsin Africa
138
3 7E n e r g y
THE WHOLESALE BUSINESSGalp has developed new products, seeking to counter the decline of the LPG market and to create new consumption through value added products for its customers. These new LPG products are in the fields of lighting, heating and cooking, in particular the Cookspot gas BBQ and Hotspot warming solution. These products are intended to increase the comfort and leisure solutions.Galp provides the filling of about 15 million bottles of gas for multiple uses on the Portuguese market per year.
LPG BUSINESSThe LPG business of Galp consists of the sale of liquefied petroleum gas, propane and butane to more than one million end customers, through 17,000 outlets.
GALP WINS"CONSUMERS' CHOICE" IN THE SERVICE STATIONS AND BOTTLED GAS CATEGORIES.
Galp was awarded the "Consumers' Choice" stamp and was elected as the brand that best satisfies the Portuguese in the Service Station and Bottled Gas categories, in the Energy and Fuels group.The brand, with this award, was recognised by consumers as a leader in these two business sectors.
3 8 E n e r g y
In this area, Galp is an integrated producer with operations over the entire production chain, from raw material to sales. It has played a key role in the introduction in Portugal of energy from renewable sources in road transport In terms of upstream, the company has an important palm plantation project in Brazil, with over 40,000 hectares planted
PORTUGAL
BRAZIL
PALM OIL PRODUCTION
BIOFUELSINTEGRATED PRODUCTION OF SECOND GENERATION BIODIESEL
3 9E n e r g y
4 0 E n e r g y
4 1E n e r g y
Key Indicators 2015:> Natural gas sales to direct customers
(mm³): 3,843> Trading sales of NG/LNG (mm³): 3,822> Sales of Electricity (Total - GWh) 4,636> Ebitda RCA: €382m> Ebit RCA: €303m> Investment: €65m
GAS & POWER
4 2 E n e r g y
The activity of Galp related to natural gas covers the areas of supply, distribution and sales. It is one of the few companies in the Iberian Peninsula with storage capacity, which gives it an enviable situation in terms of trading opportunities.
NATURAL GASSUPPLY, DISTRIBUTION AND SALES
606,000 NATURAL GAS CUSTOMERS ON THE IBERIAN PENINSULA
The recent opening of its most modern and flagship electricity and gas store in Porto, in the famous Casa de Música building, is a sign of the major goal of Galp to attract 100,000 new customers in this region, in two years.
ATTRACT 100,000 NEW CUSTOMERS IN PORTO
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The assets held by this business include four operating cogeneration plants with an installed capacity exceeding 160 MW. The new cogeneration plants of Sines and Matosinhos are the largest in Portugal, placing Galp at the forefront of this technology in Portugal.
Sines: 82 MW Matosinhos: 82 MW
ELECTRICITY
Cogeneration: Installed capacity of 173 MW
Sale of electricity: 4,636 GWh.
COGENERATION
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In 2015, Galp signed an agreement to sell to EDP Renováveis the five companies holding licences and network interconnection rights for a wind energy capacity of 216.4 MW.Ventiveste, a company held 50% by Galp and 50% by Martifer, focuses its activity on a wind energy portfolio of 12 MW in production and a 50% stake in the Âncora Wind project, with 176.1 MW under construction.
WIND ENERGY PORTFOLIO OF GALP
SALE OF THE WIND ENERGY PORTFOLIO OF 216.4 MW.
Rua da Corticeira, nº 34 · Apartado 47 · 4536 - 902 Mozelos VFR · PortugalTel.: +351 227 475 800 · Fax: +351 227 475 801
www.grupoamericoamorim.com
Publisher: Amorim Holding II, SGPS, S.A. • Real Estate 2015 • 1st Edition: April 2016, Porto • 100 copies • Printing: Lidergraf • Legal Deposit: 407363/16