Petroleum Africa
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Monday, September 1, 2014
The tiny island nation of Sao Tome and Principe (STP) has enacted a couple of new laws that affect its petroleum industry. The first, Decree-Law No. 7/2014 of April 25, involves new by-laws for the National Petroleum Agency (ANP). The ANP-STP is a legal entity governed by public law and endowed with legal personality and capacity.
The ANP has full autonomy, whether technical, administrative, financial or with regard to its assets. Among other issues, the new by-laws set out the principles and responsibilities entrusted to the new entity, which is under the supervision of the minister in charge of hydrocarbons and energy.
This statute came into force on April 25, repealing the by-laws previously enacted by Decree-Law No. 5/2004, of June 30, 2004, as well as Articles 2 and 4 of the same Decree.
The second decree is a template for the permit for hydrocarbons exploration. Decree-Law No. 4/2014, of May 29 approves the new permit form for hydrocarbon exploration.
The new permit involves the payment of the following fees: (i) Zone A – $25,000.00; (ii) Zone B – $20,000.00; (iii) Zone C – $5,000.00; (iv) Onshore – $10,000.00. Renewal of the permit is subject to a fee of 50% of the above amounts.
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