The National Petroleum Agency of Sao Tome and Principe announces plans on the 5th of November, at the Africa
Upstream conference in Cape Town, for a competitive bidding round to explore for hydrocarbons for up to 17 separate defined offshore areas. Applications will be assessed based on stated evaluation criteria. Successful applicants will be granted a Production Sharing Contract (PSC).
The License Round is expected to open in the first quarter 2010 and companies will be allowed approximately 6 months to formulate their applications. The ANP delegation included Luis Prazeras, Executive Director of the National Petroleum Agency (ANPSTP) and Carlos Neves, Public Relations and Financial Director.