Galp CEO says “window of opportunity” for drilling off coast of Alentejo “has closed”

Celebrating GALP’s ten years on the Portuguese stock exchange in Lisbon today, GALP CEO Carlos Gomes da Silva appears to have dropped a bombshell.

If what he says is true, it is another victory for anti-oil campaigners.

Gomes da Silva is reported to have told his audience that the window of opportunity for drilling off the coast of the Alentejo has closed.

The reason: “the extension given for public consultation”.

The news, coming in a report by dinheirovivo website, is being taken very much with a pinch of salt by campaigners.

ASMAA, for example, says this is something that was meant to come up for discussion at a meeting next month.

Thus, fireworks for now, are muted.

Dinheirovivo’s report broached the subject with the following text:

“Questioned on oil prospection in Portugal, in which GALP maintains a partnership with Eni to evaluate the areas of the Alentejo and Peniche, Carlos Gomes da Silva showed himself to be less than optimistic.

“In the Alentejo public consultation for offshore exploration… was prolonged, and this closed the window of opportunity”, he told DV, which went on to say:

“The GALP CEO explained that the firm is now awaiting licensing approval and only after this will re-equate the project, but on a very embryonic basis”.

The thrust of Gomes da Silva’s discourse was on the fact that Portugal had an “almost non-existent understanding of its maritime potential, including the energetic component”.

The plan for the next few years, is to keep GALP “resilient”, he said, adding “this is not a business for people with heart problems”.

It may be one for good poker-players, though, and that is what is worrying the anti campaigners.

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