The consortium made up of BP Exploration Operating and US company Kosmos Energy has begun environmental impact studies in the São Tomé and Príncipe sea to explore oil in the archipelago’s exclusive economic zone, the consortium’s representative said on Monday.
The work, which started three days ago, in addition to oil company technicians also involves members of several non-governmental organisations from São Tomé and abroad as well as artisanal fishermen, who are the focus of an awareness campaign promoted by BP Exploration Operating and Kosmos Energy, said Daniel Nz Shirmonth.
The environmental studies are the result of two oil block prospecting contracts established last March between the BP Exploration Operating/Kosmos Energy consortium and the São Tomé and Príncipe National Oil Agency.
The contracts, which are valid for 28 years with the first eight being for seismic surveys and the remaining 20 for development and production, give the BP group the status of operator of blocks 10 and 13, with the State of São Tomé and Príncipe taking a 15% stake in each of them.
Block 10 has an average depth of 2,500 metres and an area of 6,839.6 square kilometres, while block 13 has an average depth of 3,000 metres and covers an area of 6,776.9 square kilometres.
In addition to the exclusive economic exploration zone, São Tomé and Príncipe also has another joint operation with Nigeria, under a treaty that grants 60% of revenues to the Nigerian state and 40% to the archipelago. (Source: Macauhub)