ERHC Energy Inc (ERHE)

[kingpindg]

Tela Non article on Shell and Block 4


The Anglo-Dutch oil exploration company acquired 85% of participatory interests in block 4 of the exclusive economic zone of São Tomé and Príncipe. The state of Santo got the remaining 15% right to participate.

The production sharing contract for oil block number 4 was signed last week. Shell positions itself as the main oil company operating in the Exclusive Economic Zone of São Tomé and Príncipe. São Tomé and Príncipe has 9 oil blocks awarded and Shell is present in 5 blocks, namely 6, 10, 11, 13 and 4.

Andrew Hepburn, Shell's Director General for São Tomé and Príncipe and Suriname was the one who signed the contract on block 4 with the São Tomé state.

"It is in our interest to continue investing in São Tomé and Príncipe. More prospecting studies will be carried out, which will lead us to the goal of exploring oil here in São Tomé and Príncipe," he said.

The National Petroleum Agency is confident that Shell will find black gold, because it is a company with technical and financial evidence.

"Shell has demonstrated this, it has the technical and financial capacity to exploit oil," said Álvaro Silva, Executive Director of the National Petroleum Agency.

The state institution that manages the oil dossier, praised the commitment of the oil company Shell in the search for black gold in the territorial sea of the country. "We are convinced that of the various blocks that Shell is part of here in São Tomé and Príncipe, the oil company with the most blocks in the country that we have successes in the near future, and that our country will finally enter the world of oil-producing countries," he pointed out.

The signing of the contract for sharing the production of block 4, allows the state coffers to raise financial resources, through the signing bonus.


https://www.telanon.info/economia/2024/06/30/44892/petrolifera-shell-participa-em-5-blocos-de-petroleo-de-stp/





.