Publication: Country Economic Memorandum for Sao Tome and Principe - Background Note 4: Update on Oil and Gas Exploration and Production in São Tomé and Príncipe
de Vivies, Patrice
Sao Tomé and Príncipe is surrounded by oil-producing neighbors, but haven’t found commercially viable oil in its territory so far. São Tomé and Príncipe (STP) is surrounded by major oil producing countries including Nigeria, Equatorial Guinea, and Gabon, but there has not been any commercial oil or gas discoveries in the country’s waters yet. STP is exploring for oil in two different zones under different jurisdiction: the Joint Development Zone (JDZ) with Nigeria, and the Exclusive Economic Zone (EEZ). There are talks as well for a joint exploration zone with Equatorial Guinea. The purpose of this note is to update the status of oil and gas exploration in STP and provide a probability and timeline for eventual discoveries and commercial production. The answers to these questions are key to the country’s long-term development prospects, as it would alter dramatically STP’s development path.
“de Vivies, Patrice. 2019. Country Economic Memorandum for Sao Tome and Principe - Background Note 4; Country Economic Memorandum for Sao Tome and Principe - Background Note 4 : Update on Oil and Gas Exploration and Production in São Tomé and Príncipe. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/32136 License: CC BY 3.0 IGO.”