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Taiwan eyes Sao Tome’s oil
Taiwan is looking to get involved in oil exploration in the waters off
the African twin-island nation of Sao Tome and Principe but must compete
with other nations once formal bids open. Foreign Minister Carlos
Gustavos said Sao Tome will open co-operation bids to anyone interested
at a date still to be announced once it has completed technical work and
formalized its exclusive oil exploration zone.
"We need collaboration from Taiwan in the oil business, but by law we
must put it to a tender," Gustavos told on the sidelines of a
Taiwan-Africa summit in Taipei. "Of course Taiwan is interested."
Sao Tome industry officials have said production could start by 2010.
Taiwan is encouraging its major oil companies, such as CPC Corporation
Taiwan to do feasibility studies for Sao Tome's oil.
"We are interested in it. We will encourage our companies to pursue it,”
Taiwan foreign ministry spokesman David Wang said.
