Share

Sasol is set to explore oil wells in Mozambique

Johannesburg -  Sasol's efforts to take advantage of Mozambique's significant oil and gas resources have paid off as the company is set to explore wells after two of its three applications in Mozambique’s fifth Licensing Round were successful.

Sasol (70%, operator) and Empresa Nacional de Hidrocarbonetos (ENH) the state oil company, (30% carried interest) were awarded the onshore Area PT5-C, which is 3 012 square kilometres, adjacent to the Pande and Temane fields. 

Sasol's other successful bid was for Area A5-A, which is 5 145 square kilometres, situated in the offshore Angoche Basin. In this block, Italian oil company Eni will act as operator (34%), with Sasol and Statoil of Norway holding 25.5% each and ENH holding a 15% carried stake.

“Together with our bid partners, we welcome the opportunity to further participate in the growth and development of Mozambique, the heartland of our upstream operations. The country has been, and continues to be, a strategic partner for Sasol,” said Sasol CEO David Constable. 

Mozambique last year opened bidding process for 15 blocks with hydrocarbons potential in Rovuma, Zambezi and Angoche (all offshore) and the onshore Pande-Temane and Palmeira.

Apart from Sasol, this attracted interest of major energy companies such Eni and ExxonMobil, the world's largest private oil company. 

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.02
-0.6%
Rand - Pound
24.01
-0.5%
Rand - Euro
20.53
-0.3%
Rand - Aus dollar
12.35
-0.0%
Rand - Yen
0.13
-0.6%
Platinum
900.40
+0.4%
Palladium
998.40
-0.3%
Gold
2,210.05
+0.7%
Silver
24.65
+0.0%
Brent Crude
86.09
-0.2%
Top 40
68,079
+0.6%
All Share
74,269
+0.5%
Resource 10
56,875
+2.2%
Industrial 25
103,593
+0.3%
Financial 15
16,463
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders