Russia plans to support Sao Tome and Principe in oil exploration

19 August 2010

Sao Tome, Sao Tome and Principe, 19 Aug – Russia plans to provide economic support for Sao Tome and Principe in the oil, hydroelectric power and fishing sectors the Russian ambassador to Sao tome and Principe, Sergei Nenachev, said Tuesday in Sao Tome.

Following a meeting with the new prime minister of Sao Tome and Principe, Patrice Emery Trovoada, who took office last Saturday, the Russian diplomat noted Russia’s interest in taking part in the process of oil exploration in the Sao Tome archipelago.

As well as a joint exploration zone with Nigeria, Sao Tome and Principe is awaiting the results of the first auction of oil blocks for its exclusive economic zone, in September.

The representative of the Russian government also said his country was available to co-finance the installation of hydroelectric dams on some of the rivers of Sao Tome island, with a view to overcoming the energy crisis on the archipelago.

Whilst also saying it was possible that Russia would support the fishing sector, he announced that Russia would re-launch an investment programme in the education sector by providing scholarships to students from the archipelago.

Over 350 senior staff in Sao Tome were educated in the former Soviet Union as part of bilateral cooperation between the two nations. (macauhub)