São Tomé and Príncipe
0 Employees
-
Third-party revenues
$1,056
-
Related-party revenues
$0
-
Total revenues
$1,056
-
Profit before tax
$(13,290,350)
-
Tax paid
$0
-
Tax accrued
$0
-
Tangible assets
$45,003,510
-
Stated capital
$0
-
Accumulated earnings
$0
Main business activities
- Upstream
- Integrated Gas
Shell’s footprint
Shell has been active in São Tomé and Príncipe since 2019 when Shell Sao Tome and Principe B.V. acquired interests in two production-sharing contracts (PSCs) with the government for the offshore deep-water Blocks 6 and 11. Shell acquired the entity KE STP Company and with it additional interests in deep-water exploration Blocks 6 and 11 and interests in deep-water exploration Blocks 10 and 13. The acquisition was completed in December 2020 when KE STP Company, registered in the Cayman Islands, became a Group entity. KE STP Company is the operator of Block 11 and continues to explore for oil and gas in Blocks 6, 10 and 13. In November 2021, KE STP Company moved its domicile to Luxembourg and in December 2021, KE STP Company BV’s domicile was moved to the Netherlands.
Country financial analysis
The statutory corporate income tax rate for oil and gas companies in São Tomé and Príncipe is 30%. 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.
