Swiss group Gunvor to build oil centre and port in Sao Tome and Principe

28 February 2012

Sao Tome, Sao Tome and Principe, 28 Feb – Swiss group Gunvor plans to build an oil business centre including a deep water port on the island of Sao Tome, the Prime Minister of Sao Tome and Principe said in the archipelago’s capital Saturday.

Returning from a working visit to Switzerland, Patrice Trovoada told Sao Tome’s national radio station he had signed an agreement of intent with a Swiss group to build the oil business centre, which would require investment of US$200 million.

Noting the that funding would be provided by a Swiss bank, the Prime Minister, cited by Agence France Press, also said that the future centre in Sao Tome and Principe would be “the biggest oil centre in West Africa,” which will be built in Esprainha, in the north of Sao Tome island and that technical studies would begin in the next few months.

The Sao Tome newspaper Téla Nón said that the agreement signed by the government of Sao Tome and Principe with the Swiss group was similar to the one signed in 2009 with Angolan oil company Sonangol and which includes concession of one of the former dependencies of Roça Ponta Figo, which is located in the city of Neves to the north of Sao Tome and located by the sea, to be transformed into an oil port.

Under the terms of this deal, fuel silos will be built at the location to supply ships that navigate in the Gulf of Guinea region and other oil services would be provided including a port focused on the Gulf of Guinea sub-region to provide assistance to ships, whether they are oil tankers, cargo ships or fishing vessels.

Sonangol’s investment will total over US$30 million and a renewable concession on the area has been granted for 20 years. The Sao Tome state reserve the right to receive 5 percent of all business carried out at the future oil port. (macauhub)