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Article: Sao Tome & Principe: The oil rush begins. (Countryfile).(petroleum industry Africa)(Statistical Data Included)
- Article from:
- African Business
- Article date:
- June 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Although not a current oil or gas producer, Sao Tome and Principe is being mooted as the next big thing in the West African hydrocarbon sector. New deepwater discoveries elsewhere in the Gulf of Guinea, coupled with an interim resolution of the disputed maritime boundary with Nigeria, have encouraged a reassessment of the country's offshore prospects.
The archipelago state is one of the smallest in Africa, with only 1,000 sq km of land territory. What attracts potential investors is its 180,000 sq km of maritime territory. Other discoveries in nearby areas with similar geology, such as offshore Nigeria and the Ceiba and Okume fields offshore the Equatorial ...