Galp Energia, Sonangol and Petrogas may form consortium for oil exploration in Sao Tome and Principe

2 March 2010

Sao Tome, Sao Tome and Principe, 2 March – Portugal’s Galp Energia, Angola’s Sonangol and Sao Tome state company Petrogas may form a consortium for oil exploration in the Sao Tome and Principe exclusive economic zone (EEZ), a director of the National Oil Agency (ANP) said in Sao Tome Monday.

Speaking to Portuguese news agency Lusa, the administrative and public relations director of ANP, Carlos Neves, said he believed that Sonangol and Galp had been positive about setting up a consortium, which “merely depends on a political decision.”

“This is a question of a political nature, a decision for which is not the responsibility of the National Oil Agency which is only a regulatory body,” Neves said.

According to Neves, a consortium of a national company with other companies with experience and financial means, “would be useful for the development of our own company and of the oil industry in Sao Tome and Principe.”

In relation to the auction of oil blocks that is due to take place Tuesday in London, the director of the ANP said there were “several companies” that had already shown an interest but declined to identify them. (macauhub)