In accordance with the terms of article 248 of the Portuguese Securities Code, Galp Energia, SGPS, S.A. (“Galp Energia”) hereby discloses the following information:

The contractor group for BM-S-8 in ultra deep water of Santos Basin in Brazil, including Petrobras, Galp Energia and Shell, announced today that the 1-SPS-52A (Bem-te-vi) well proved the existence of oil in the pre-salt reservoirs of Santos Basin. Preliminary tests indicate an API gravity of 25-28º, which is in line with other oil identified in the pre-salt of Santos Basin. The exploration well is located 250 kilometres from the coast of the State of São Paulo in a water depth of 2,139 meters. The final well’s depth is 6,773 meters.

This discovery was proved through an oil sampling by a lined well formation test in reservoirs situated at a depth of nearly 6,000 meters.

The contractor group is preparing a Discovery Assessment Plan to be sent to National Petroleum, Natural Gas and Biofuels Agency, according with the terms of the Concession Agreement giving continuity to the activities and investments in BM-S-8.

The contractor group for BM-S-8 includes Galp Energia (14%), Petrobras (operator, 66%) and Shell (20%).

At Santos Basin, a basin with high exploration potential, Galp Energia also holds stakes in three additional blocks: BM-S-11 (10%), BM-S-21 (20%) and BM-S-24 (20%).

Galp Energia, SGPS, S.A.