Angola’s Sonangol to support oil exploration in Sao Tome and Principe

16 May 2007

Luanda, Angola, 16 March – Angolan state oil company Sonangol plans to increase its support for surveying, production, refining and transport of oil in Sao Tome and Principe, the president of Sonangol, Manuel Vicente said Monday in Luanda.

Sonangol is currently involved in the distribution of fuel in Sao Tome and Principe through local company ENCO, in which the Angolan company has a 40 percent stake.

According to Jornal de Angola, the increased cooperation was mentioned by Vicente to the Sao Tome Natural Resources and Environment Minister, Manuel Lima.

During the meeting, the two discussed the possibility of a new plan to re-launch the cooperation between the Angolan fuel concession-holder and Petrogás, Sao Tome’s state oil company.

Vicente said that Sonangol would provide all the necessary support to Petrogás, with the aim of making the Sao Tome company a benchmark of the world oil industry.

Sao Tome and Principe has a joint exploration area with Nigeria, where four oil bloc concessions have been granted to international companies.

The archipelago’s largest consumer of fuel is the country’s water and electricity company, which produces 80 percent of its power using fossil fuels. (macauhub)