Indications of the existence of in São Tomé and Príncipe were first noted in 1974, but attempts by the Portuguese Colonial Administration to sign a concession agreement with Ball & Collins North Sea consortium (a predecessor of Premier Oil of the ) were abandoned following the country's declaration of independence in 1975. Other attempts to start petroleum exploration during the late 1980s and 1990s also failed. In 2003, (60%) and S. [pdf]
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