In 2001, São Tomé and Nigeria reached agreement on joint exploration for petroleum in waters claimed by the two countries of the Niger Delta geologic province. After a lengthy series of negotiations, in April 2003, the joint development zone (JDZ) was opened for bids by international oil firms. The JDZ was divided into nine blocks; the winning bids for block one, ChevronTexaco, ExxonMobil, and the Norwegian firm, Equity Energy, were announced in April 2004, with São Tomé to take in 40% of the $123 million bid, and Nigeria the other 60%. Bids on other blocks were still under consideration in October 2004. São Tomé has received more than $2 million from the bank to develop its petroleum sector.