São Tomé e Principe
Once known as one of the biggest producers of Cacao, and the second Lusophony country to explore petrol in Africa. Located in central Africa and home to one of the many petrol and gas projects owned by Shell and Galp, which each own 45% participating interest of the Jaca well petrol and gas exploration project, In the exclusive economic exploration zone ZEE, block 6 which covers an area of about 5,024, square kilometers in Sao Tome e Principe territorial waters. More than 2400 deep.
The drilling on the archipelago was scheduled to initiate in March this year but was postponed due to a slight change in schedule of the drilling ship Sonda Valaris DDS-10, because of the recent discovery of a well in Namibia (country we discussed in our previous blog). The national petrol agency representing the state, with a 10% share in the project, which is recently lead by a newly appointed executive director, Luiz Gamboa (Petro chemical engineer), with years of experience, in substitution of Olegario Tiny. The agency has organized for a new drillship, Maersk voyager, which is equally equipped with state-of-the-art technology as the initially allocated ship and is due to initiate drilling sometime this month.
Drilling initiation postponed or not, we are still unable to assist you. Have you applied for a work permit and now feel an uneasy? Because drilling has been postponed, please contact us and we will most definitely help you figure out the best solution in this situation. We’ve been handling identical situations daily for more than 10 years now, the project at zone 6, involves so many different stakeholders, and millions of dollars towards investment, stakeholders include countries such as Nigeria(rich in mineral resources), the IMF, the Joint Development Authority, and the list goes on, fact which can only mean, new opportunities, and increase in employment, the hiring of several individuals for all sorts of services and new companies setting up. Involves hiring new staff, is a process which can be stressful on its own, stress, which can be eased.
With a payroll service which will considerably reduce the stress and costs in your company, it is incredibly efficient and reliable as it keeps all your tax obligations up to date, avoiding all the possible problems which might arise with the local tax authorities, all the compliance risk management is a stress we take off your back. Unfortunately, very few companies can say this In Sao Tome, and even fewer have a reliable system such as ours a great team, which works great on a global level. The experience of working in countries such as Sao Tome e Principe, which being a developing country lack the technological infrastructure such as many developing countries. Our team not only has a very deep understanding of the local tax, but it also has a detailed in-country solution, which will keep your company payroll compliant.
Sao Tomé and Principe’s, fantastic touristic destinations, seem to have been forgotten due to the constant chatter on the new petrol and gas exploration projects, but that does not mean they no longer exist, places where one can unwind after a long week of work are very much still available, and the options are endless, places located along the clear waters of the Atlantic Ocean and many others. Which can also mean opportunities in the tourism industry.
