São Tomé and Príncipe
PROFIT BEFORE TAX
Main Business Activities
- Upstream and Integrated Gas
Shell has been active in São Tomé and Príncipe since 2019.
In May 2019, Shell Sao Tome and Principe B.V. signed an agreement with Kosmos Energy Sao Tome and Principe to acquire interests in two production-sharing contracts (PSCs) with the government of the Republic of São Tomé and Príncipe for the offshore deep-water blocks 6 and 11. Government consent was granted in November 2019.
Country Financial Analysis
The statutory corporate income tax rate for oil and gas companies in São Tomé and Príncipe is 30%.
Kosmos Energy is the operator of Block 11 (Shell interest 30%), while Galp Energia is the operator of Block 6 (Shell interest 20%).
Losses reflect exploration costs, for which there is no immediate tax relief. When the project starts production, these costs can be deducted against profits for tax purposes in compliance with local legislation.