[2019-11-08] Shell Group signs an agreement for oil exploration in São Tomé and Príncipe

Source: Macauhub

The Shell Group has signed an agreement for prospecting and potential future exploration of oil and gas in the São Tomé and Príncipe Exclusive Economic Zone, according to a statement from the National Oil Agency (ANP) issued on Thursday in Cape Town, South Africa.

The agreement, signed on the sidelines of the “Africa Oil Week” conference, which began on 4 November and ends on 8 November in that South African city, concerns the participation of that group in blocks 6 and 11 of the EEZ.

“Anglo-Dutch company Shell will operate in these areas, in partnership with the companies present in the blocks, US company Kosmos Energy and Portugal’s Galp Energia,” said the statement from the National Oil Agency.

The National Oil Agency, through its president, Olegário Tiny, said that the fact that the agreement with the Shell group was signed during the conference, the most important meeting of the sector in Africa, “ends up contributing to the promotion of the oil potential of the São Tomé and Príncipe EEZ, which is still unknown and untapped.”