São Tomé and Príncipe

EITI Status Suspended for missing deadline
Joined EITI in 2008
Latest Data From 2017
Latest Validation 2017
Last updated 9 June 2021


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 reviewed the legal, contractual and fiscal frameworks applicable to the oil sector.

Beneficial ownership disclosure

Objectives of beneficial ownership transparency in São Tomé and Príncipe 

  • Promoting transparency and good governance to ensure good investment climate
  • Promoting sustainable publication of real owners of companies operating in STP
  • Developing an institutional framework favourable to beneficial ownership disclosure
  • Prevent and avoid conflict of interest and define the concept of PEPs
  • Guarantee universal, free, easily accessible and comprehensible information on beneficial ownership

Progress on implementing beneficial ownership disclosure

São Tomé and Príncipe plans to support comprehensive beneficial ownership provisions in Minerals Policy, which will inform amendments to the Mines and Minerals Act, the new Corporate Governance Code (late 2016 or early 2017), and propose amendments to Petroleum Act and Companies Act. Sao Tome and Principe EITI plans to organize a series of workshops to build capacity for beneficial ownership disclosure. Read São Tomé and Príncipe's beneficial ownership roadmap below for more information.

It is very important for us to give citizens reliable information to allow them to be an effective part in the participatory budget process
Violeta de Herrera, mayor of Castilla who is piloting a regional EITI


There is currently no production in São Tomé and Principe, although exploration is ongoing.

Natural resources

São Tomé and Principe has for the past decade prepared itself for oil production and explored oil offshore. So far, no commercially viable oil discoveries have been made.

Revenue collection

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, fewer companies are exploring offshore and revenues have decreased significantly. The latest report notes that the Joint Development Authority (JDA) received, in 2015,as a signature bonus, the amount of 1,656,250 USD being the only revenue for that year.

Initializing chart.

Revenue allocation

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 2015, there was roughly USD 10 million left in the account. The National Petroleum Agency (ANP) collects administration fees.

In accordance with the Contract celebrated between Nigeria and São Tomé and Príncipe, the revenues received by the JDA from the JDZ operators should be distributed in a 60%/40% ratio to the Federal Government of Nigeria and to São Tomé and Príncipe, respectively.


On 1 March 2021, São Tomé and Príncipe was temporarily suspended for not publishing their 2018 Report on time. The publishing deadline was previously extended by the Board as per the decision 2021-16/BM-49.


São Tomé and Príncipe was found to have achieved meaningful progress in implementing the EITI Standard. View more information under the Validation section of this page or go to the Board's decision in full. Previously, the country was compliant under the 2011 Rules.

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.

In April 2019, the Board approved São Tomé and Príncipe's request for adapted implementation.


The National Coordinator is Jose Cardoso. 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.



São Tomé and Príncipe was found to have achieved meaningful progress in implementing the EITI Standard. View more information under the Validation section of this page or go to the Board's decision in full. Previously, the country was compliant under the 2011 Rules.

Sao Tome's fourth Validation will commence on 1 July 2022 in accordance with the revised Validation schedule (Decision 2020-92/BC-300).

Sao Tome and Principe's progress by requirement

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