Kosmos Energy has obtained majority rights to one of the oil blocks in Sao Tome and Principe's exclusive economic zone.

The company, secured a 65% interest in Block 12, while the remaining interests on the block are owned by Sao Tome and Principe's National Petroleum Agency and Equator Exploration. Kosmos’ acquisition of a 65% interest signifies that the company now has interests in four of Sao Tome's 19 offshore blocks.

“We are building our exploration portfolio during a time of opportunity in which there is less competition as a result of lower commodity prices,” Thomas Golembeski, vice president for corporate communications told Energy-pedia news.

Sao Tome and Principe, an ex- Portuguese colony, which has a combined exploration zone with Nigeria, is up till now not found any commercially viable oil

Anita Fatunji