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Thursday, November 6, 2014
Shell has petitioned the government of South Africa to give a yeah or nay on its almost four-year old application to explore for shale in the Karoo Basin. The major E&P firm submitted its application in early 2011, however due to protests from local residents and environmentalists the South African government issued a moratorium on the shale issue.
Now would be the time for Shell to push for a decision as the Petroleum Agency of South Africa (PASA) recently told Falcon Oil and Gas that a decision has been taken to proceed with processing of the company’s application for a shale gas exploration license in the Karoo Basin.
“Why it is taking so long is a conundrum that we are trying to figure out,” Shell South Africa chairman Bonang Mohale said at a news conference. “We were hoping that by now we would have at least started the exploration process.”
“Capital is moving,” he said. “My guess is that we are probably months away, not years away, from the issuing of exploration rights.”
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