PetroSA signs technical cooperation permit deal with Sasol

offshore southafrica-dsearls flickrThe block covers 19‚066 sq km with water depths ranging from 100 to 500 metres. (Image source: dsearls/Flickr)PetroSA has signed a technical cooperation permit (TCP) agreement with synthetic fuels group Sasol to explore Block 3A/4A in South Africa’s offshore Orange Basin

The TCP represents the first such cooperation in exploration between the two companies in 10 years. It allows the two companies to explore the block‚ which is located within the Orange Basin‚ along the western margin of South Africa.

The Soouth African oil and gas company will conduct geochemical analysis‚ basin modelling and seismic interpretation in order to evaluate the acreage’s hydrocarbon prospectivity.

The block covers 19‚066 sq km with water depths ranging from 100 to 500 metres.

PetroSA and Sasol each have 50 per cent equity in the block, with former being the operator.

Nosizwe Nokwe-Macamo, PetroSA Group’s CEO, said, “In order to deliver on its mandate of ensuring security of liquid fuels supply in the country‚ the national oil company has entered into strategic partnerships with different entities.”

In the past two years, PetroSA has concluded cooperation agreements with multinational oil and gas companies such as Sinopec‚ Eni‚ PetroMoc and the Korea National Oil Corporation‚ among others.

The partnership with Sasol on Block 3A/4A has significant strategic value to PetroSA’s West Coast exploration efforts.

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