Government of São Tomé and Príncipe appoints new Oil Agency director

18 January 2019

The new government of São Tomé and Príncipe has appointed lawyer Olegário Tiny as the executive director of the National Oil Agency, according to a decision to which Macauhub had access in São Tomé.

Lawyer Olegário Tiny replaced the previous ambassador Orlando Pontes as, who was dismissed a few days ago.

The decision of the Council of Ministers signed by the Minister of the Presidency, Wuando Castro, said this decision followed an assessment of three candidates put forward by the Minister of Natural Resources, Osvaldo d’Abreu.

“The Council of Ministers reviewed the nomination of the executive director of the National Oil Agency and assessed the profile of candidates Olegario Tiny, Cristina Dias and Marian Masini, having decided on the proposal of Olegário Tiny,” said the document.

Olegário Tiny, a former Minister of Justice, holds the position of Executive Director of the São Tomé and Príncipe/Nigeria Joint Oil Exploration Zone. He was also a member of the National Oil Society of São Tomé and Príncipe, among other positions.

Created in 2014, the National Oil Agency is responsible for regulating, supervising, control and promotion of the activities of the oil and gas industry with full technical, administrative and financial autonomy as part of the Ministry responsible for hydrocarbons and energy.

In addition to an exclusive economic zone established in 2009 with an estimated 19 oil blocks in an area of 125,891 square kilometres, São Tomé and Príncipe also has another joint exploration zone with Nigeria created in 2001 based on a sharing agreement assigning 40% of revenues to Sao Tome and Principe and 60% to Nigeria. (macauhub)