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Galp to Consider Sale of Angolan Upstream Operations

  • Oil firm working with an adviser to identify potential suitors
  • Galp has sent marketing materials on Angola to likely bidders
Updated on

Galp Energia SGPS SA is considering a sale of its upstream operations in Angola, as Portugal’s biggest oil company seeks to streamline its hydrocarbon portfolio, according to people familiar with the matter. 

The company is working with a financial adviser to gauge interest in its assets in the African country, the people said, asking not to be identified as the matter is private. Galp has sent out marketing documents to potential suitors, the people said.