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Monday, December 22, 2014 3:10:43 AM
"Last winter, after careful evaluation of the seismic data available, ERHC selected EEZ Blocks 4 and 11 which, incidentally, are adjacent to the islands where water is not as deep as in most other EEZ Blocks. The comparatively shallow water depths should simplify drilling relative to the other Blocks. The Blocks are also east of the islands and close to Gabon’s many offshore oil discoveries.
Earlier in the year, Sao Tome's government short-listed four companies, including Portugal's Galp Energia, to bid on two oil blocks in its exclusive economic zone.
The close proximity of São Tomé & Príncipe’s offshore waters to the proven hydrocarbon systems in the adjacent waters of Nigeria, Cameroon, Equatorial Guinea and Gabon suggests the potential for hydrocarbons, which is further supported by regional seismic data and petroleum seeps seen on the islands.
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