PetroSA given go-ahead for US$1 billion gas production project

PetroSA's GTL facility. (Image source: PetroSA)PetroSA's GTL facility. (Image source: PetroSA)South Africa’s national oil company, PetroSA, has announced that it has been granted approval to start producing gas feedstock from its US$1 billion offshore Ikhwezi gas project

The offshore gas field, called F-O, contains approximately one trillion cubic feet (tcf) of gas, with an upside of two to three tcf, the company said.

The drilling of five of Ikhwezi's wells is due to begin in November and gas production is expected to commence in mid-2013 according to Reuters.

Project Ikhwezi is designed to sustain the life of PetroSA's Mossel Bay gas to liquids refinery.

The drilling activity accounts for 63 per cent of the project’s total capital expenditure.

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