- According to the São Toméan Presidency, the Malaysian state oil company Petronas is showing keen interest in participating in the upcoming oil exploration offshore the archipelago. The President had met with Petronas leaders during a recent state visit to Malaysia.
Fradique de Menezes, President of São Tomé and Príncipe, has told the local press that the Malaysian oil company is considering to participate in oil exploration investments offshore São Tomé island.
President Menezes had been on a 9-12 January official visit to Malaysia. According to Malaysian media reports, the São Toméan President on 10 January had visited the Malaysia Palm Oil Board (MPOB) and met "senior Petronas officers in Putrajaya."
The Malaysian daily 'The Star' said that President Menezes during his three-day state visit had "invited" Petronas leaders "to participate in Sao Tome oil and gas projects". São Toméan authorities first had been in contact with Petronas in April last year and later sent officials to visit Malaysia.
Back in São Tomé, Menezes told local media that Petronas had "expressed interest" both in offshore explorations in the exclusive economic zone of São Tomé and Príncipe and in setting up related businesses.
The government of São Tomé and Príncipe is expected to open bidding for exploration blocs in its territorial waters later this year, following the auction of promising blocs last April in the zone its administers jointly with Nigeria.
In the São Toméan-Nigerian joint exploration zone, Nigerian authorities, knowledge and capital will be dominating explorations and exploitations. Most activities will be directed from Nigerian soil and go through oil companies already operating in Nigeria; sub-Saharan Africa's major oil producer.
It is therefore believed that São Toméan authorities are trying to attract new companies to its exclusive zone, aiming to establish a petroleum sector and employment onshore. Mr Menezes' quest for Petronas investments in "related businesses" may be a part of this São Toméan desire.
Petronas is a growing Kuala Lumpur-registered oil company. It has operations in many parts of Africa, including minor investments in neighbouring Equatorial Guinea and major operations in Sudan.
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