# National Oil Account

National Oil Account is a Sovereign Wealth Fund based in São Tomé, São Tomé and Príncipe.

## Overview

- **Organization type:** Sovereign Wealth Fund
- **Headquarters:** São Tomé, São Tomé and Príncipe
- **Region:** Africa
- **Address:** São Tomé, São Tomé and Príncipe
- **Founded:** 1968
- **Assets under management:** Undisclosed
- **Website:** bcstp.st
- **LinkedIn:** https://ly.linkedin.com/company/libyanoc

## Regulatory record

- **Reports private funds:** No

## About

National Oil Account is a sovereign wealth fund based in São Tomé, São Tomé and Principe. It manages approximately $10 million in assets, primarily focused on African investments.

## Sectors

- Energy
- Oil & Gas

## People

- Banco Central de São Tomé e Príncipe — Manager

## Questions

### Who manages the National Oil Account?

The Banco Central de São Tomé e Príncipe (BCSTP) administers the account. It is responsible for operations, custody, and public reporting, including the publication of macroeconomic projections and treasury-bill results on its website. No separate investment committee or external manager is disclosed.

### How does the account receive its petroleum revenues?

Revenues flow from hydrocarbon production in the Nigeria–São Tomé and Príncipe Joint Development Zone, where proceeds are split 60% to Nigeria and 40% to São Tomé and Príncipe. The Agência Nacional do Petróleo (ANP-STP) manages the licensing and contractual framework for exploration blocks, while the BCSTP receives and accounts for the resulting income.

### Which international oil companies operate in São Tomé’s blocks?

Chevron serves as operator and co-investor in JDZ Block 1. In the Exclusive Economic Zone, Kosmos Energy holds interests across multiple blocks, and Shell has invested in Blocks 6 and 11. These partnerships form the upstream basis for the account’s revenue stream.

### Is the National Oil Account a standalone sovereign wealth fund?

No. It operates as a government receipt account managed by the central bank rather than as an independently incorporated fund with its own mandate, investment staff, or governance board. This makes it structurally closer to a state revenue-holding mechanism than a typical SWF.

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Last updated: 2026-06-03T20:00:00.000Z

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