Uchenna Izundu
International Editor
LONDON, Feb. 2 -- Portugal's Galp Energia SA said it will explore three blocks covering 9,000 sq km off southwestern Portugal in partnership with Hardman Resources and Portugal's Partex Oil & Gas.
The initial exploration stage will run for 8 years. If oil is found, production would span 30 years, Galp said. The group also has an option to extend the contract by another 15 years.
Hardman has an 80% interest in the consortium, while Galp and Partex have 10% each.
Contact Uchenna Izundu at [email protected].
