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São Tomé and Príncipe

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  • Third-party revenues


  • Related-party revenues


  • Total revenues


  • Profit before tax


  • Corporate income tax paid


  • Corporate income tax accrued


  • Stated capital


  • Accumulated earnings


  • Tangible assets


  • 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.

Corporate income tax
This is a direct tax imposed on companies’ profits. It is sometimes levied at a national level but can also be levied on a state or local basis.
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Production-sharing contracts or concessions
A production-sharing contract is a contractual arrangement between the holders of a resource, typically a country’s government, and a resource extraction company, concerning how much oil or gas each party would receive. The company bears the mineral and financial risk of the initiative. It explores, develops and, if successful, manages production. Costs are recovered through the sale of oil or gas and what is left over is split depending on the terms of the contract.
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