Petrobras Secures Block 3 In São Tomé And Príncipe’s Exclusive Economic Zone

Brazil’s state-controlled oil company Petróleo Brasileiro S.A. (Petrobras) has secured Block 3 in the Exclusive Economic Zone of São Tomé and Príncipe, the National Petroleum Agency of São Tomé and Príncipe (ANP-STP) said.

The production sharing contract for Block 3 will run for 28 years.

Petrobras will operate Block 3 with a 75% participating interest, while Oranto Petroleum and ANP-STP will hold 15% and 10% interests, respectively.

In a statement, ANP-STP Executive Director Álvaro Silva said applications for Blocks 7, 8 and 9 did not meet all of the state’s award criteria, particularly its objective of diversifying operators in São Tomé and Príncipe.

As a result, ANP-STP, acting in its capacity as the sector regulator, decided not to award the three blocks, in line with the government’s strategy for the petroleum sector.

“The state will concentrate its exploration efforts on the awarded blocks and, when it deems appropriate, will launch a new licensing round for additional blocks,” Silva said.