São Tomé and Príncipe

Employees

0

• Third-party revenues

  $28,963

• Related-party revenues

  $398,557

• Total revenues

  $427,520

• Profit before tax

  $(71,072,604)

• Corporate income tax paid

  $0

• Corporate income tax accrued

  $0

• Stated capital

  $0

• Accumulated earnings

  $0

• Tangible assets

  $36,300,630

• Other payments to governments

  –

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 with the government for the offshore deep-water Blocks 6 and 11. In December 2020, Shell acquired KE STP Company, registered in the Cayman Islands, and with it additional interests in deep-water exploration blocks 6, 10, 11 and 13. KE STP Company is the operator of Block 10, 11 and 13 and non-operator of Block 6. Each block is in the exploration phase for oil and gas. KE STP Company moved its domicile to Luxembourg in November 2021 and then to the Netherlands in the following month.

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. Should the project start production, these costs can be deducted against profits for tax purposes in compliance with local legislation.