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Sao Tome: viability of petroleum resources Sao Tome and Principe renews

13h: 50 - Sao Tome, Apr 15 (STP-Press) - National Authorities reiterated the other day in the capital, that'' Sao Tome and Principe has oil in a reasonable amount for marketing, it was learned today, this african country -Lusophone.

Ensuring the public opinion of the country's Minister of Natural Resources, Fernando Maquengo, which ensured that Sao Tome and Principe enter the crude-producing countries in Africa club in September 2015, when in partnership with neighboring Nigeria start the production of the first barrels of oil to the joy of just under 200,000 STP.

In an interview last Sunday, the radio program'' Zero'' Parallel of the archipelago's public broadcaster, the Minister, who also holds the portfolio of Public Works, Infrastructure and Environment, citing the recent meeting in Abudja , council of ministers of the joint area, desdramatizou polemics of the Nigerian authorities allegations concerning an alleged unease with São Tomé, on the whole oil exploration project.

The official did not give further details of the production process in the offshore area, reported that in parallel with the oil in marketable quantities in Block 1, the most prosperous of the nine area that agreed in the Treaty of 40, under the model sharing 60/40% between the parties, there is huge deposits of gas in the same region.

'' We can not speak a lot of oil in block 1. But there is oil in a reasonable amount for marketing,'' he said,'' ensuring that within 18 to 20 months, we will start producing [oil]''.

In further accordance with the Santomean ruling, the parties also agreed on steps to exploit fish stocks in the joint operating area between the two neighboring states, signed in 2001.

Incidentally, the authorities scheduled for 5 to May 8 of this year, the capital São Tomé, an awareness seminar concerning the capture of marine resource joint area.

Under this draft oil partnership with Nigeria, resulting in auctions for various petroleum operators for seismic prospecting in the joint area, Sao Tome and Principe benefited in recent years from more than 70 million U.S. dollars.

Sao Tome and Principe which also offers ongoing seismic exploration in its exclusive economic zone, benefited under social responsibility, donations from various companies operating in the joint area, especially in areas such as health and education, financing over three million dollars.

As regards the exclusive economic zone, with latest seismic process, pointed out that it was agreed partnerships'' with'' good prospects with some oil companies, that'' the medium term will bear fruit.''

Aludiou to block oil overlay on the border with neighboring Equatorial Guinea, Sao Tome and ensuring Malabo are afoot to, the middle, come together to explore oil between the two states.

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