Portuguese oil group Galp Energia will drill its first test well in block 6 of the São Tomé and Príncipe Exclusive Economic Zone at the end of this year or beginning of 2021, the group’s production and export director said on Wednesday in São Tomé.
Thore Kristiansen, at the end of a hearing with the prime minister of São Tomé, Jorge Bom Jesus, said that the group had been processing data over the past two years, and “we conclude there is now the possibility of drilling the first prospecting well.”
The director of production and export of the Portuguese group is in the capital of São Tomé and Príncipe for talks with the authorities, and has given assurances that the negotiations for the conclusion of this process are “on track” and cooperation with the different ministries and with the National Oil Agency is “very satisfactory.”
In February 2017, the director of the National Oil Agency told Macauhub that the US oil group, Kosmos Energy and Portugal’s Galp Energia had started seismic surveys to find oil in four blocks of the Exclusive Economic Zone of São Tomé and Príncipe.
As well as its EEZ, São Tomé and Príncipe also has another joint area with Nigeria based on a treaty signed in February 2001, setting out that Nigeria receives 60% of revenues while 40% goes to São Tomé.