tee the Joint Authority in Dinner - Debate organized by the Francophone Economic Circuit. The Joint Authority explained Francophone economic operators, the Total oil company, decided to leave the block because the amount of oil discovery does not meet the parameters set for a big company like France's Total.
Studies and perforations made ??by French company Total in Block 1, indicate that there is enough to extract 19,000 barrels per day for 15 years oil. The explanation was that the Joint Sao Tome and Principe-Nigeria, gave authority to the members of Francophone Economic Circuit in Dinner-Debate, this organization of Francophone entrepreneurs organized last Friday. ' It has a production capacity of around 100 million barrels as reserves and oil quality is quite good , "assured Arzemiro dos Prazeres, a representative of the Joint Authority in the event last Friday - Monday.
The prospects for oil exploration, after the withdrawal of the French company Total Block 1 of the joint area was the main theme of the conference.
Arzemiro dos Prazeres who represented Prince Joint Nigeria-São Tomé and Authority, explained that the block 1tem future. Total Withdrawal from which it had planned for 2015, the actual exploitation of oil in this block, does not undermine the process. " After the departure of Total find ourselves in a negotiation with independent companies, that has smaller structures that Total, but has deep knowledge of deepwater production. The joint authority has received some stakeholders. We hope they can move on to more concrete situations briefly 'highlighted Arzemiro of Pleasures.
According to the Joint Authority, the important thing is reviewing proposals from companies that are demonstrating interest in exploring the existing oil in block 1. « Now is find yourself a company that has the financial capacity and expertise in drilling deep. Without the marriage of these two factors is very difficult. But we believe there is much chance of reaching a definition with a company or consortium of companies to be put on the operational effectiveness of the block ', detailed the representative of the Joint Authority.
If the studies done by Total, 1 indicate that the block has oil reserves in order to 100 million barrels, the members of the Francophone Economic Circuit, wanted to understand why the retired Total? " From the information we have been given the percentage level of discovery is not in accordance with the parameters defined by large companies such as Total , "explained Arzemiro of Pleasures.
Black gold that was discovered in block 1 does not seem to satisfy the profit strategy of Total.
Concerning Sao Tome exclusive economic zone, the Francophone Economic circuit in Sao Tome and Principe, briefed Cristina Dias, as Administrative Director of the National Petroleum Agency. He explained that the country has signed a production sharing agreement for exploration of oil blocks 3.
Block 3 with the Nigerian Petroleum Orantum company, Equator Exploration, and the company Sinoangola Chinese and Angolan capital. ' We Orantum who is more advanced. According to the program already in February next year, will start doing seismic studies of 3 dimensions ", stressed Cristina Dias.
The Equator Exploration who won right on the block 5 of the EEZ as a result of agreements signed in the past, is not showing signs of progress in implementation of the exploration program block. " Right now is a bit stagnant. We are trying to reactivate the process, to give continuity to the work in our exclusive economic zone ', Cristina Dias scored.
Regarding the block 2 Sinoangola attributed the company, the National Petroleum Agency, says wait at law the payment of signature bonus. " We believe that from next year we will have activity in terms of seismic studies and environmental impact on this block , "he concludes.
Explanations of the dossier oil left Francophone Economic Circuit, believing that oil exploration will be reality in Sao Tome and Principe. While the black gold no Wells, the president of the Francophone Economic Circuit encouraged the francophone entrepreneurs in São Tomé firm commitment to continue to other riches that make these islands are wonderful. « Sao Tome and Principe is a mine of gold in various sectors, not to speak of the black gold, which is oil, but white gold is that cocoa and chocolate, red gold that is palm oil. What should retain tonight is that one day the oil will gushing wells , "said Jean Marie Ecrepon.
Francophone Economic circuit, was born 2 years ago. In addition to supporting the Francophone entrepreneurs seeking business opportunity in Sao Tome and Principe, intends to work in partnership with the national authorities in the promotion of private foreign investment in the country.
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