ERHC Energy Inc (ERHE)

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São Tomé and Príncipe waits for oil in the coming years

Oil will be a reality in São Tomé and Príncipe in the coming years. The first drilling, made by the GALP and SHELL consortium, in the Exclusive Economic Zone, offers good prospects, according to Osvaldo Abreu, São Toméan minister of natural resources.

There are strong indications of the existence of oil in block 6 of the exclusive Economic Zone of São Tomé and Príncipe, recently drilled more than five thousand meters deep.

Second, Osvaldo Abreu, São Toméan minister of natural resources: "it is a great gain for the country".

"We believe that oil and gas were found. And now what remains to be seen is to what extent? It is a great victory, a great gain in terms of resources for our country," said the São Toméan minister of natural resources.

This discovery will trigger future discoveries in the EEZ of São Tomé and Príncipe.

The samples are currently being analyzed in specialized laboratories.

It is recalled that the Block 6 consortium consisting of Galp and Shell, both with 45% participatory interest, and the State of São Tomé, with 10% covers an area of 5,024 square kilometers in São Tomé territorial waters, about 100 kilometers from the coast of the country.


https://theworldnews.net/amp/ao-news/sao-tome-e-principe-espera-por-petroleo-nos-proximos-anos



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