This is the Sao Tome and Principe EITI 2015 Annual Progress Report in Portuguese (in accordance with Requirements 7.4 and 8.4).
São Tomé and Príncipe is exploring for oil in two different zones under different jurisdictions: The Joint Development Zone (JDZ) with Nigeria, and the Exclusive Economic Zone (EEZ). So far oil has not been discovered in commercially viable quantities. With the downturn in the price of oil, the government is looking at how to make the zone more competitive and attract new investors to continue exploration. The EITI is helping to inform the dialogue on rethinking how both the EEZ and the JDZ could attract investment while being managed in line with international best practice. EITI Reports have reviewing the legal, contractual and fiscal frameworks applicable to the oil sector.
São Tome and Príncipe received roughly USD 300 million in oil exploration revenue between 2003 and 2013, mainly from signature bonuses. Companies signed agreements to explore in the Exclusive Economic Zone. As the results have been disappointing, less companies are exploring offshore and revenues have decreased significantly. In 2014, the government received nearly USD 1.3 million from oil exploration.
All revenue from oil exploration are deposited into the national oil account, from which a maximum of 20% of the balance can annually be transferred to the state budget. At the end of 2013, there was roughly USD 10 million left in the account. The National Petroleum Agency (ANP) collects administration fees.
The EITI process is supported by all stakeholders and reports are creating debate especially about the management of the JDZ and social payments. In February 2016 the Board approved STP’s request for adapted implementation related to revenue reconciliation and contextual information related to the Joint Development Zone (JDZ) with Nigeria.
The EITI Champion is Minister of Finance Américo dos Ramos. The MSG has ten members, including representatives of the media and of the autonomous region of Príncipe. STP-EITI has a sub-committee with Nigeria EITI that coordinates EITI reporting in the Joint Development Zone.
This is the Sao Tome and Principe EITI 2015 work plan in Portuguese (in accordance with Requirement 1.5).
This EITI Report covers Sao Tome and Principe's extractive sector in 2014. It was published in September 2015.
This EITI Report covers Sao Tome and Principe's extractive sector from 2003 to 2013. It was published in November 2014.
This is the Sao Tome and Principe EITI 2014 Annual Progress Report (in accordance with Requirements 7.4 and 8.4).
This is the Sao Tome and Principe EITI 2015 work plan (in accordance with Requirement 1.5).
Mr José Fernandes ROSA CARDOSO
José Cardoso was appointed as EITI National Coordinator of Sao Tome and Principe in 2011 and has since been leading the country's application for Initiative.
Former civil servant,
Ines Schjolberg Marques
Ines Schjolberg Marques is part of the Anglophone and Lusophone Africa team and supports wider policy work at the EITI International Secretariat. She holds an MSc in Development Studies from London School of Economics,