Johannesburg - Petrochemicals group Sasol [JSE:SOL]
has entered an
agreement to buy a 50% stake in Canada's Farrell Creek assets for
R7.12bn from Talisman Energy.
Sasol, the world's largest producer
of fuels from coal, said the two companies have agreed to establish a
50-50 general partnership in Canada that will own Farrrel Creek Assets.
company said on Monday that Talisman will continue to operate the
Farrell Creek assets, associated gas gathering systems and processing
The two companies have agreed to conduct a joint
feasibility study on the economic viability of a gas-to-liquid facility
in western Canada.
They have also agreed to collaborate on other western Canadian natural resource opportunities.
which is also listed on the Toronto and New York exchanges, is a major
producer of gas in the Marcellus shale and also holds leading positions
in the Montney, Utica, and Eagle Ford shales.