Home | News    Tuesday 26 February 2008

South Africa to spend $650 mln on oil exploration

separation
increase
decrease
separation
separation

February 25, 2008 (CAPE TOWN) — South African state-owned oil company PetroSA will spend $650 million over the next two years to help secure energy to help alleviate the country’s power crisis, a senior official said on Monday.

PetroSA was also in talks with power utility Eskom to provide gas for new gas-fired power stations.

"Through the drilling campaign over the next two years, PetroSA will spend approximately $650 million to contribute to security of supply by extending the gas reserves in its Block 9 (acreage)," Everton September, the company’s vice president for upstream new ventures told Reuters in an interview.

PetroSA manages South Africa’s strategic oil inventory and explores for oil and gas mainly in Africa.

It has ramped up its gas and oil exploration activities as South Africa struggles to come to grips with a power shortage which has plunged millions of homes in darkness and cut off electricity to mines and other businesses.

"We will fund it from our balance sheet... We have the capacity to do that," September said.

September said PetroSA will maintain 36,000 bpd gas production to 2020 through eight new projects along South Africa’s south coast with the first gas from these projects to be piped in mid-2010.

The company’s flagship Mossel Bay gas-to-liquid (GTL) plant, which produces 45,000 bpd, is expected to run dry by 2015 unless satellite gas fields are exploited.

PetroSA is a pioneer in GTL technology and has interests in Nigeria as well as recently acquired exploration fields in Mozambique, Namibia, Sudan and Egypt.

(Reuters)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Sudan’s legitimate request for UN assistance: the opponents their interior motives? (2-3) 2020-06-05 12:29:45 By: Trayo A. Ali To expose and preempt the plot these opposing forces to the UN are hatching, the tricks and tactics using, the ploys they are crafting and ulterior motives they harbour and the (...)

We neither Forget nor Forgive the 3 June 2019 Massacre 2020-06-04 06:41:26 By Mahmoud A. Suleiman Today Wednesday, June 3rd 2020 comes as the great epic of redemption at the dawn of the third of June 2019, whose memory will remain immortal in the history book, (...)

The untold crisis of health system in South Sudan 2020-06-03 06:49:09 by Dr Jok Gang The South Sudanese war began in 1955 at the time when people of the region began to feel a lack of representation in the government and therefore the absence of the crucial (...)


MORE






Latest Press Releases


S. Korea supports UN communities building resilience project in Sudan’s Blue Nile 2019-09-09 09:26:41 UNDP Sudan September 5, 2019 (KHARTOUM) - An agreement was signed on 5th of September between the Korean Ambassador, His Excellency. Lee Ki-Seong and Dr. Selva Ramachandran, Resident (...)

Sudanese lawyers and Human rights defenders back calls for civil rule 2019-04-26 10:22:06 Press statement by 55 Sudanese lawyers and Human rights defenders on Sudan Sit-in and Peaceful Protest Khartoum -24/04/2019 We, the undersigned (55) Sudanese lawyers and human rights defenders, (...)

South Sudan’s Lafon youth condemn killings of civilians by Pari community 2019-04-03 21:54:29 Press Statement on the Fighting between Pari/ Pacidi and Lotuko/Lokiri on 24/3/2019 Release by The Lafon County Youth Union: We, the Lafon County Youth Union hereby condemn the atrocities and (...)


MORE

Copyright © 2003-2020 SudanTribune - All rights reserved.