Africa Oil & Gas: British-American consortium to explore oil in São Tomé and Príncipe

bp602x338_bp-seeks-stake-in-cairn-energy-senegal-assets-ministry-adviserThe oil consortium made up of BP Exploration Operating Co. Ltd. and US-based Kosmos Energy has been awarded the right to prospect in two oil blocks in the São Tomé and Príncipe Exclusive Economic Zone, the director of the National Oil Agency said on Monday in São Tomé.

In a statement sent to Macauhub in São Tomé, Orlando Pontes noted that the decision follows a “restricted” tender launched a little over a month ago by the São Tomé government through the National Oil Agency for blocks number 10 and 13.

The document also said that “in the next few days the National Oil Agency will start negotiations with the consortium to sign the Oil and Gas Production Sharing Contract,” for the blocks.

In addition to the winning consortium, another consortium made up of Portuguese group Galp Energia and France’s Total also took part in the tender.

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)

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