Government of Sao Tome and Principe makes use of Sonangol’s technical advisory services

2 July 2013

The government of Sao Tome and Principe plans once again to make use of the technical advisory service offered by Angola’s Sonangol to negotiate with companies interested in oil blocks in the archipelago’s exclusive economic zone (EEZ), said Prime Minister, Gabriel Costa.

“At the beginning of this process of prospecting process and eliminating borders, we are making use of Angola’s experience, particularly that of Sonangol, to sign contracts with some companies,” said the Prime Minister cited by Portuguese news agency Lusa.

Noting that he was not aware of why work with Sonangol had stopped, the Prime Minister gave assurances that it would begin again, “in that Sonangol has proven experience in this area and it will be of great use to us.”

Costa noted that revenues from cocoa production in Sao Tome and Principe, the country’s main export product, “are not even close to covering” the country’s national needs.

Speaking to 20 Angolan businesspeople who Monday ended a three-day visit to the archipelago, the Prime Minister said it was necessary to change that situation, adding that the involvement of the Angolan private sector in the economic development of Sao Tome and Principe was “fundamental.” (macauhub)