Sao Tome and Principe: Prime minister invites Galp and Sonangol to explore oil in the country

18 September 2008

Lisbon, Portugal, 18 Sept – The government of Sao Tome and Principe wants to set up a strategic partnership with Portuguese oil company Galp and Angolan oil company Sonangol, said the Sao Tome and Principe prime minister, Rafael Branco said Wednesday at the end of a two-day visit to Portugal.

“There is a clear government position to establish concrete partnerships with Galp and Sonangol, to explore oil in Sao Tome,” said Branco, at the presentation of national airline STP Airways in Lisbon.

Branco, when asked about what had gone wrong in 2005 when Galp and Sonangol had tried to invest in Sao Tome, noted that, “a lot to-ing and fro-ing went on in this regard, because there were legal obstacles, which were not overcome.”

Branco said that his government planned, next year, to launch an auction for oil exploration. Previous Sao Tome governments also put forward similar partnership proposals to Brazilian state oil company Petrobras. (macauhub)