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Sasol Signs Exploration Right Permit to Explore for Hydrocarbons in Durban and Zululand Basins, Offshore KwaZulu-Natal
Johannesburg, South Africa (ots/PRNewswire) - Sasol, through its upstream oil and gas subsidiary, Sasol Petroleum International, today signed an Exploration Right permit to explore for hydrocarbons on the East Coast (Durban and Zululand basins), offshore Kwazulu-Natal province, with the Petroleum Agency South Africa (PASA).
The Exploration Right permit was granted by PASA for an initial period of three years.
The Durban and Zululand basins are of interest because they sit at the southern end of the Mozambique Channel. Significant discoveries have recently been made in the north of Mozambique, most notably in the Rovuma basin.
"This is Sasol's first operated Exploration Right licence in South Africa for at least a decade," said Ebbie Haan, Managing Director at Sasol Petroleum International.
He added that Sasol will ensure that a robust public consultation programme is implemented during the assessment phase and that stakeholders' concerns will be addressed. Sasol already has an exemplary track record in conducting exploration of this nature. Offshore Mozambique, Sasol has conducted three separate seismic surveys and drilled three wells with no negative impacts on marine mammals, including the endangered dugong, whilst maintaining good relationships with artisanal and commercial fisheries, as well as the tourism and conservation sectors.
In 2011, Sasol was granted a Technical Cooperation Permit (TCP 032) to study and investigate the potential for hydrocarbons, in an area covering 83 000km.
The granting of the Exploration Right (SPI: 100% interest) permit follows the submission of a work programme in September 2012, followed by a high-level Environmental Impact Assessment and Environmental Management Plan completed in February this year.
Sasol has already completed 4 000 kilometres of a 2D seismic survey in terms of a programme covering an area of 5 950 km. The remainder will be acquired in 2014, following which the results will be analysed and interpreted.
Committed to excellence in all we do, Sasol is an international integrated energy and chemical company that leverages the talent and expertise of our more than 35 000 people working in 37 countries. We develop and commercialise technologies, and build and operate world-scale facilities to produce a range of product streams, including liquid fuels, high-value chemicals and low-carbon electricity.
While remaining committed to our home-base of South Africa, Sasol is expanding internationally based on a unique value proposition.
About Sasol Petroleum International
Sasol Petroleum International develops and manages the group's upstream interests in oil and gas exploration and production in Mozambique, South Africa, Canada, Gabon, Papua New Guinea, Botswana, Australia and Nigeria.
SPI is driving the development of Sasol's upstream business to allow the group to meet its strategic objective of accelerating the growth of its proprietary gas-to-liquid (GTL) technology. In recent years we have taken a number of steps to expand our global upstream portfolio, encouraged by the global abundance of natural gas and the rapid development of the shale gas industry, as well as the lower carbon intensity of natural gas. We are investing in ventures ranging from onshore and offshore conventional and unconventional shale and tight gas and coal-bed methane.
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