Petroleum Africa
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Wednesday, November 29, 2017
Sasol, South Africa’s petrochemical giant and international oil and gas producer, intends to divest assets worth $1billion, including shale gas in Canada and GTL in the US, in order to focus on exploration and production in Mozambique, West Africa, and in the fuel retail business in South Africa.
Paul Victor, Sasol’s financial directorwas cited as saying that the Canadian assets have a book value of $513 million, and the group is interested in disposing of over $500 million in other assets that are not considered essential to its activity.
Sasol operates the Pande and Temane natural gas fields in Mozambique’s In hambane province, which are linked to South Africa by an 865-km gas pipeline to the city of Secunda.
In addition to oil prospecting, the South African group is also involved in Mozambique in the Ressano Garcia Power Plant, a gas-fired plant located on the border between the two countries.
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