São Tomé e Príncipe launches tender for oil block prospecting

São Tomé and Príncipe’s National Oil Agency (ANP) has launched a public tender to receive expressions of interest in the oil prospection of block 01 and the 55% stake in block 02 of the country’s Exclusive Economic Zone (EEZ), according to an official statement.

The decision to launch a tender for block 01 came as a result of the interest expressed by Total E&P Activités Pétrolières in prospecting this block, “under the framework law of oil operations,” said ANP executive director Orlando Sousa Pontes , in a statement sent to Macauhub in São Tomé.

“The National Oil Agency, following the request presented by the company Total E&P Activités Pétrolière invites eligible companies or consortia to express interest in the area corresponding to Block 1 of the Exclusive Economic Zone, São Tomé and Príncipe EEZ,” the statement said.

The document added that “the National Oil Agency intends to negotiate the 55% stake available in the Production Sharing Contract of Block 02 of the São Tomé EEZ” under the terms of the oil laws of the archipelago.

In addition to the exclusive area, São Tomé and Principe also has another joint area shared with Nigeria based on a treaty signed in 2001 establishing 60% of revenues for the Nigerian state and the remaining 40% for the São Tomé archipelago. (macauhub)