Equatorial Guinea proposes oil exploration partnership with São Tomé and Príncipe

19 October 2015

The president of Equatorial Guinea, Teodoro Obiang Nguema Mbasogo, proposed the creation of a partnership to explore oil in the existing maritime boundary between the two countries, during a state visit to São Tomé and Príncipe.

Teodoro Obiang Mbasogo recalled signing the maritime boundary with São Tomé and Príncipe, when it began oil exploration in the area concerned, and said the two countries could form what he called a “joint enterprise” to “divide the product of the exploration of this great deposit that is in our common border.”

The president of Equatorial Guinea, who on Sunday began a 48-hour visit to São Tomé and Príncipe at the invitation of his São Tomé counterpart, Manuel Pinto da Costa, launched the proposal at a press conference given by the two presidents in São Tomé, where he recalled that Equatorial Guinea was a poor country before it tapped into the oil potential in its territory.

The delegation of the president of Equatorial Guinea has more than 40 members, including four ministers, such as the Mining, Industry and Energy ministers.

“Our Minister of Mining repeatedly visited São Tomé and Príncipe and that is how we can help the archipelago to explore the oil in its exclusive areas,” said Teodoro Obiang Nguema Mbasogo, who added that the agreement São Tomé and Prince has with Nigeria was not a obstacle.

Teodoro Obiang Nguema Mbasogo, who went to the São Tomé capital on his first visit following the integration of Equatorial Guinea in the community of Portuguese-speaking countries, “thanked the CPLP countries” for membership of his country and the “great support” of São Tomé and Príncipe to make this integration possible during the summit meeting held in Dili, Timor-Leste (East Timor). (macauhub/ST)