Equatorial Guinea’s new Ambassador, Paulino Ekobo, said that the country and Sao Tome have resumed talks on planned creation of a partnership for oil exploration in the existing maritime boundary between the two countries, Ecofin Agency reported.
The pre-agreement to establish a partnership for the exploration of oil in the common border was signed in October 2015 at the end of a visit by the President of Equatorial Guinea, Teodoro Obiang Nguema Mbasogo, to Sao Tome and Principe. Additionally, the agreement requires the exploration of a block situated in an overlaying area between the two member states of the Community of Portuguese-Speaking Countries (CPLP), according to Macau Hub. Ekopo said oil exploration was one of the priority areas of his diplomatic mission within the framework of cooperation between Equatorial Guinea and Sao Tome and Principe.
Sao Tome and Principe has a joint oil exploration zone with Nigeria based on a political treaty signed in February 2001 resulting from similar talks to the ones it is having with Equatorial Guinea.