Africa Energy Frontiers: São Tomé and Príncipe
The Africa Energy Frontiers series profiles Africa’s up-and-coming oil and gas nations. In 2015 and 2016 we published overviews of petroleum legislation, recent activities, major projects and tax considerations in 15 African jurisdictions, from South Sudan to South Africa. Now, we look at São Tomé and Príncipe.
One of the last underexplored frontiers in the Gulf of Guinea, the small island country of São Tomé and Príncipe (STP) has yet to find oil or gas in its territory. Since 2005, a Joint Development Zone between the country and Nigeria has pushed STP into the era of modern oil exploration. In 2011, the country stepped up activities further when it staged its first open bid round in its Exclusive Economic Zone.