Auction of oil blocks in Sao Tome and Principe’s exclusive economic zone set for 2 March

12 February 2010

Lisbon, Portugal, 12 Feb – The auction of oil blocks in the Exclusive Economic Zone (EEZ) of Sao Tome and Principe is scheduled to take place on 2 March in London, the director of the National Oil Agency (ANP), Luís dos Prazeres said Thursday in Lisbon.

Speaking to Portuguese news agency Lusa, dos Prazeres also said that the auction would take place on the sidelines of the “APPEX 2010” oil and gas conference, which will take place from 2 to 4 March in the UK capital, organised by the American Association of Petroleum Geologists (AAPG).

At the conference, “the prime minister will make a statement to officially open the auction and the National Oil Agency will give a short technical presentation about the auction,” said dos Prazeres.

The Sao Tome EEZ, according to dos Prazeres, is split into 19 oil blocks, but not all of these will be put on the market and he added that next week “which and how many blocks will go to auction” although it is likely that four will be left out of the auction.

Dos Prazeres said that within the framework of the agreement that the archipelago has with Environement Remediation Holding Corporation (ERHC) and Equator Exploration, these companies have preferential rights on four blocks in the EEZ.

Companies that are interested in any of the oil blocks up for auction can look at seismic data at the oil agency in the Sao Tome capital or in London at the AAPG headquarters. (macauhub)