LISBON (Thomson Financial) - Galp Energia SGPS would like its exploration and production activities to account for 25 pct of group EBITDA in 2012 compared to 15 pct in the first quarter of this year, CEO Manuel Ferreira de Oliveira said.
Speaking at a press conference after the group's broadly in-line first quarter results, the CEO said that his unofficial target is for the weighting of the group's core refining division to decline to 50 pct from the 56 pct it currently represents, with gas and power and E&P increasing their contribution to group operating profit.
Galp has earmarked 1 bln eur of its total 3.6 bln eur 2008-2011 investment plan for boosting its E&P activities.
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