Sao Tome, Sao Tome and Principe, 07 Dec – The government of Taipei (Taiwan) plans to take part in oil exploration in the exclusive area of Sao Tome and Principe and in its joint area with Nigeria, Sao Tome President Fradique de Menezes said Tuesday in Sao Tome.
According to Menezes, Taipei wants to be involved through its state company Chinese Petroleum Corp., which may group together with other interested oil companies such as Brazil’s Petrobrás.
The president, speaking on state television station, TVS, said that Taipei had offered Sao Tome and Principe US$1.5 million to boost the country’s state budget.
Menezes visited Taipei between November 21 and 24 at the invitation of the region’s president, Chen Shui Bian.
“This money will help Sao Tome and Principe to boost revenues,” Menezes said, adding that the support was provided after a request from Sao Tome, within the scope of bilateral cooperation.
As well as the budget support Menezes said Taipei had provided a US$100,000 emergency fund to help Sao Tome fight an ongoing cholera epidemic.
Since diplomatic relations were established in May 1997, it is estimated that Taipei authorities have invested over US$80 million in the Sao Tome archipelago, particularly in health, education and infrastructures.(macauhub)