According to the RDP Africa radio report that is referenced in the story, the Sao Tomese shareholders described in the story are allegedly officials of the island nation who own shares of ERHC Energy.
The meeting of the National Petroleum Council mentioned by Sao Tome's natural resources minister, Arlindo de Carvalho, is believed to be pro forma. he indicates that the decision reached by the JMC included a decision on the block awards that now has to be ratified by the council.
Carvalho says the blocks were "distributed" not, as some some feared, according to the highest bid, but based on the technical and financial capacity of the bidders.
Beneath each paragraoph in Portuguese, my personal translation is in boldface:
02-05-2005 18:07:00. Fonte LUSA. Notícia SIR-6966081
São Tomé: Conselho Nacional de Petróleo reúne-se esta semana
Sao Tome: National Petroleum Council Will Meet This Week
São Tomé, 02 Mai (Lusa) - O conselho nacional de petróleo de São Tomé e Príncipe reúne-se esta semana para analisar propostas de petrolíferas interessadas em blocos da zona de exploração conjunta com Nigéria, anunciou hoje o ministro dos Recursos Naturais são-tomense.
Sao Tome, May 2 (Lusa) - The National Petroleum Council of Sao Tome and Principe will meet this week to analyze proposals from oil companies interested in blocks of the exploration zone with Nigeria, the Sao Tomese minister of Natural resources announced today.
Arlindo de Carvalho disse à imprensa que a reunião surge na sequência da última sessão de trabalho realizada em Abuja, Nigéria, entre os responsáveis do conselho ministerial que envolve representantes governamentais dos dois países.
Arlindo Carvalho told the press that the meeting follows the close of the last work session in Abuja, Nigeria on the report of the ministerial council that includes representatives of both countries.
"O conselho vai reunir-se esta semana para tomar decisões sobre as propostas saídas da última reunião de Abuja", sublinhou Arlindo de Carvalho, que chefiou a delegação petrolífera do arquipélago que esteve há pouco menos de uma semana na Nigéria.
"The council is going to meet this week to to make decisions over the closing proposals of the last meeting in Abuja," said Arlindo de Carvalho, who was the chief delegate of the archipelago that has spent a little less than a week in Nigeria.
Apesar das "dificuldades" encontradas nas últimas negociações de petróleo na capital nigeriana, sobretudo, na adjudicação de blocos petrolíferos, Arlindo de Carvalho afastou qualquer hipótese de irregularidade no processo.
Despite the "difficulties" enountered in the last negotiations on petroleum in the Nigerian capital, respecting the awards of the oil blocks, Arlindo de Carvalho rejected any suggestion of irregularities in the process.
Na sexta-feira, a rádio RDP África noticiou que havia a intenção de desqualificar as empresas com melhores propostas, a favor de petrolíferas onde alguns dirigentes são-tomenses são accionistas.
On Friday, Radio RDP Africa reported that there had been a rejection of the bidders with the best proposals, in favor of oil companies that have some Sao Tomese citizens as shareholders.
Arlindo de Carvalho negou qualquer política de benefício, tendo sublinhado que "não se afastou ninguém, mas, sim, houve distribuição de blocos" em função de propostas financeiras e capacidades técnica das empresas.
Arlindo de Carvalho denied any political favoritism, trying to stress that "we have not rejected anybody; we have distributed the blocks" as a function of the financial proposals and technical capacities of the companies.
Além de meia dezena de blocos que se encontra em negociação, São Tomé e Príncipe e a Nigéria já negociaram um bloco da zona conjunta a uma empresa norte americana, a Chevron Texaco, por 123 milhões de bónus de assinatura.
Beyond the half-dozen blocks that were the focus of negotiations, Sao Tome and Principe and Nigeria already have a deal in the joint zone with an America firm, ChevronTexaco, for a $123 million signature bonus.
Assinado em Fevereiro de 2001, o tratado de exploração conjunta estabelece 60 por cento para a Nigéria e restante 40 para São Tomé e Príncipe.
Signed in February 2001, the joint zone treaty provides 60 percent to Nigeria and and the remaining 40 percent to Sao Tome and Principe.
RCN.
Fim/Lusa
3 comments:
What about the other report that contradicts this one you posted. Says there are problems with ERHE beating out ANADARKO.
The problem would seem to be with the shortsighted members of the international media.
They dont seem to understand that Noble promised to fast track the drilling with 3 wells in 1 year. So it basically is an argument of higher signature bonus bids vs. lower signature bonus with promise of fast tracking.
Nigeria understands that fast tracking is what is most important. Sao Tome has not learned that lesson.
Nigeria has fields that have were awarded 10 years ago that have not even been drilled on yet. They have learned the importance of fast tracking to first oil vs. accepting a high signature bonus with no such promises.
APC's signature bonus is $33 million more than ERHE/Noble.
APC's work committment was to spud one well in 3 years time.
ERHE/NBL's work committment was to spud 3 wells in 1 years time.
Figuring the cost to spud 1 well in this setting is approx $35 million dollars.
APC's investment: $11.6 million per year.
ERHE/NBL investment: $105 million per year.
Its a no brainer which company has offered the better package.
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