Sao Tome, Sao Tome and Principe, 5 May – The Sao Tome and Principe government has granted exploration rights on an oil block in its exclusive economic zone (EEZ) to Nigerian oil company Oranto Petroleum, the National Oil Agency (ANP) said Tuesday in Sao Tome.
According to a statement from the ANP, the decision to award block 3 to the Nigerian oil company had been taken Monday at a Council of ministers meeting following the first international auction of seven blocks in the archipelago’s EEZ.
The statement signed by the chief executive of the ANP, Luís Alberto dos Prazeres, said that the block awarded to Oranto Petroleum covers 4,228 square kilometres and is located in exploration area A of Sao Tome and Principe’s EEZ.
Oranto Petroleum is a Nigerian company that has been operating since 1991 and is actively involved in several oil blocks in the Gulf of Guinea and West Africa.
As well as Oranto, the first auction for the Sao Tome EEZ also involved Sao Tome company OG Engineering, British company Afex Global and Nigeria’s Ouvert Energy.
As well as its EEZ, Sao Tome and Principe also has a joint oil exploration area with Nigeria, based on a contract signed in February, 2001.(macauhub)