Galp Energia said that in 2016 net profit totalled €483 million, of €156 million less than the previous year, adding that “the impact of non-recurring events, including impairments, was €324 million.”
Last year, total oil and gas production rose 48 percent compared to 2015, which was due to greater contributions from assets in the Brazilian pre-salt layer with the start of operations of two new floating production storage and offloading (FPSO) units - Cidade de Maricá and Cidade de Saquarema and the ramp-up of another six units already installed there.