TotalEnergies, one of the world’s energy giants, recently made a strategic move towards Sao Tome and Principe. The company obtained rights to search for oil and gas in the small archipelago, particularly in the bloc STP02a perimeter with an area of 4 969 km² located approximately 60 km off the coast of the country.
This investment comes following an agreement concluded with l’São Tomé and Príncipe National Petroleum Agency (ANP-STP), the regulator of the local oil industry. Under the terms of the agreement, TotalEnergies will operate on the site with a participation of 60 %, while Sonangolthe public oil company ofAngolaand the ANP-STP will respectively hold 30 % et 10 % remaining shares. This partnership underlines the importance of regional cooperation in the African energy sector.
São Tomé and Príncipe, although small in size, has considerable potential in natural resources, particularly gas and oil. TotalEnergies’ interest in block STP02 reflects the industry’s confidence in the potential of this region. The size and strategic location of the block offer promising prospects for significant oil and gas discoveries.
TotalEnergies is not new to the region and has extensive experience in hydrocarbon exploration and production across the world. The company will bring its expertise technique and its financial capacities to maximize the chances of success of operations in São Tomé and Príncipe. This new phase of exploration could represent a major opportunity for the archipelago’s economy, which would benefit from additional revenues and increased economic growth.
For São Tomé and Príncipe, attracting a major player like TotalEnergies is a milestone victory. This demonstrates the attractiveness of the country for foreign investments in the energy sector and paves the way for future international collaborations. Revenues generated from the oil sector could be crucial for the socio-economic development of the country, improving infrastructure, creating jobs and supporting various community projects.
The agreement with TotalEnergies is also part of a broader strategy to diversify partnerships and foreign investments in the energy sector of São Tomé and Príncipe. By working with renowned companies, the country can not only develop its natural resources, but also benefit from international best practices in governance and environmental sustainability.
