1. Nigeria and Sao Tome and Principe are located in the Gulf of Guinea which is one of the most prolific oil and gas areas in the world. The two States have overlapping maritime boundary claims. Sao Tome and Principe has formally claimed archipelagic State status, and it, therefore, has drawn archipelagic baselines in accordance with Article 47 of the United Nations Convention on the Law of the Sea (hereinafter “UNCLOS”) and declared its Exclusive Economic Zone (hereinafter “EEZ”) of 200 nautical miles, but the northwestern part of this overlapped considerably with Nigeria’s claimed EEZ. After maritime boundary negotiations failed in 1998,1 the two States signed the joint development agreement. 2. The Treaty between the Federal Republic of Nigeria and the Democratic Republic of Sao Tome and Principe on the Joint Development of Petroleum and Other Resources, in respect of Areas of the Exclusive Economic Zone of the two States (hereinafter “Treaty”) was concluded on 21 February 2001 and entered into force on 16 January 2003. The Treaty establishes the joint development regime between the two States, which is composed of three parts: the Treaty itself, an Appendix entitled Special Regime Area (hereinafter “SRA”), and a Memorandum of Understanding (MOU).
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