ERHC Energy Inc (ERHE)

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STP - New law-chart of the oil-producing operations permits to the government create consortium for exploitation of the oil in the zone económica exclusive of Saint Tomé and Prince

They been Saints-tomense already had manifested interest in create a consortium with oil-producing companies of lusophone countries for joint exploitation of the oil. But to old law 4/2000 that was in force sealed that possibility. Second Luís of you Will Please , executive Director of the National Agency of Oil to new law that should be promulgated by the President of the Republica, facilitates the direct intervention of the government in the business, as well as of national citizens.

The direction of the institution that regular the oil-producing sector, guaranteed to the Téla Nón that already has the work of home made, and that awaits green light of the government for carry out the first oil blocks auction in the zone económica exclusive are-tomense.

In interview to the Téla Nón, the Executive Director of the National Agency of Oil, announced that the seismic studies of two dimensions, carried out by the Norwegian company PGS in 10750 quilómetros lineal of the zone económica exclusive are-tomense, permitted the identification of 14 blocks of oil.

The facts that accuse existence of oil are prosecuted, the National Agency of Oil, considers that already concluded more from 80% of the work with an aim to sale of the blocks. To recent approval by the Assembleia National of the new law chart of the oil-producing operations and of the law of the taxation of the oil, healthy two more elements that contribute for the trial. "It is alone a question of the government take the decision", affirmed Luís of him you Will Please.

If still in this month of July the two diplomas will go promulgated by the President of the Republic, "can be that the auction happen still in this year, otherwise alone in the beginning of the near year. But, that do not want to say that necessarily the government is going to put in the market the 14 blocks. Occasionally it can put 4 or 6 blocks, since to our zone is a youth", explained the executive director of the National Agency of Oil.

The National Agency of Oil says that to new law is modern, and that separates very well the waters. The paper of the agency as regulating organ is well defined, as well as the responsibilities of the commercial organ, that the national company of oil it to be constituted. To new second law Luís of you Will Please extinguishes the company STP-Petro, created by the law now cancelled. The state are-tomense should create a company of oil for be able to participate directly in the business in the exclusive zone, or then constitute a consortium.

To new law, gives like this answer to one of the intentions manifested especially by the President of the Republic there are some years behind, of create a partnership with oil-producing companies of some lusophone countries, namely to Sonangol of Angola, to Petrobrás of Brazil, and to GALP of Portugal for exploitation of the black gold in the territorial waters of the archipelago.

"That new law indicates the form as the government can participate in this oil-producing trial. It can be through the national company of oil, or through a consortium. This is predicted in the law. We say that having the government made the adjudication of a block, the advice of ministers, can decide that the government have 10 or 15% of the block. The previous law does not foresee this hypothesis", scored Luís of him you Will Please.

The national citizens, also can create companies for explore oil, or for installment of service. Obstacles and difficulties arisen during the 6 years of studies and launching of auction of the blocks of the zone of joint exploitation with the Nigeria, conferred to the state are-tomense some experience that contributed for the elaboration of the new law chart of the oil-producing operations.

By example in the second auction of the joint zone with the Nigeria, two blocks put in the market did not deserve attention of the oil-producing companies, Stayed by auction. The alone previous law admitted business by road of international public contest. The previous government of Tomé See Cross, tried to alter the law for permit the intervention of the state in the direct adjudication of the blocks that were not auctioned, but the trial was locked.

This time, the coalition divided into three in the power, advanced with the new law that permits to the state adjudicate directly the blocks of oil that in an auction has not deserved any proposal of the companies, or that the proposals presented, be not attractions. "In the twentieth article of the new law, is clear that all blocks auction trial in Saint Tomé and Prince is deed by international public contest.

But on the other hand, the article 21 says that is possible have a direct negotiation. By example the state puts in the market 5 blocks of oil. Two did not they have good proposals and consequently were not adjudicated. Any company can write for the state it say that is interested in negotiate these blocks. But in name of the transparency, the state should publish this interest giving it know the intention of the company.

After that publication in a term of 15 days itself occasionally will have more companies interested us blocks, the state should open a restricted public contest. But itself in the end of 15 days do not appear company no, the state should initiate direct negotiation with the company that wrote manifesting interest", explained Luís of him you Will Please.

It questioned by the Téla Nón, about the possibility of be the contrary one, or be, of be the state are-tomense through his governmental representative it take the initiative of invite a company for explore the blocks of oil that were not auctioned, Luís of you Will Please, said that the law seals this hypothesis. The state barely should answer entreaty of the company interested.

For it defend the transparency in the business, the law obliges that the National Agency of Oil publicite in a term of 10 days through an organ of public information all the information related with the negotiation of blocks with the oil-producing companies. The citizen are-tomense should know all you count them of the business.

The facts about the existence of oil in the zone económica exclusive of Saint Tomé and Prince, already are it be publicitados to international level. "Naturally that the blocks that in the group of the blocks that are delimited, there are some that we be able to consider of good prospectividade, can have blocks of medium prospectividade and others still missing prospectividade. The studies that have indicate that to our zone is reasonable", detailed.

The Direction of the National Agency of Oil, announced for the Téla Nón that of 7 to 10 of June last, the institution participated in Denver in the United States, in one of the biggest conferences of the world of the oil and gas. "We did the promotion of the zone económica exclusive of Saint Tomé and Prince. Therefore in this moment we have more from 80% of the work made", emphasized Luís of him you Will Please.

Abel Veiga
Publicado por Téla NónFechar
Téla Nón
Email: [e-mail]
Site: http://www.telanon.info/topico/economia/

July 2009