Galp debut in Portugal

By Noah Brenner

 06 September 2012 22:59 GMT

PORTUGUESE giant Galp has drilled its first well onshore Portugal under a joint venture signed earlier this year with US junior Porto Energy.

Galp has spudded the Alcobaca-1 well to test a conventional target that could yield up to 100 million barrels of oil below a salt layer on the 300,000-acre block. The $7 million well will be drilled using a KCA Deutag rig to a target depth of 3000 metres over 45 to 50 days.

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