On 18 March 2019, industry sources reported that the National Petroleum Agency of Sao Tome & Principe (ANP-STP) awarded to French major TOTAL SA and Angola National Oil Company Soc Nacional de Petroleos de Angola (Sonangol E.P) the offshore Block 01 located in the Sao Tome & Principe Exclusive Economic Zone (EEZ). Following the payment of a USD 2.5 million signature bonus, Total will operate the area with 55% interest, alongside with Sonangol E.P (30%) and ANP-STP (15%). The new partners are committed to spend USD 1 million over a 4-year period on social projects in the country.  The undrilled Block 01 covers about 3,300 sq km, in water depths ranging 2,000 to 2,700 m. Block 01 is adjacent to the Nigeria-Sao Tome & Principe Joint Development Zone to the north, where Total also signed in mid-March 2019 an oil production sharing contract for three undrilled frontier blocks.
 (Saint George Total and Sonangol have reportedly signed up the PSC for ultra-deepwater, 3,292-sq km Block 01,  8-year explo phase, 28 years total. Total (op) 55%, Sonangol 30%, Govt 15%. 