Sao Tome and Principe: ‘serious flaws’ in award of oil contracts

The Attorney General’s Office of Sao Tome and Principe says it has found “serious flaws” in the way that contracts were awarded to oil companies to explore offshore waters shared with Nigeria. It said in a report published on December 9 that several of the companies chosen six months ago to explore the Joint Development Zone (JDZ) shared by Sao Tome and Nigeria lacked the technical know-how and the financial muscle necessary to carry out the work.