M a r k e t N e w s
Sasol is Set to Explore Oil Wells in Mozambique
Posted on : Monday , 2nd November 2015
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.
Source : allafrica.com
