Petroleum Africa
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Tuesday, July 23, 2013
PetroSA, the state-run oil and gas firm in South Africa, is currently studying various options for transitioning it GTL refinery from the production of transport fuels to higher-value petrochemicals. The call for a more cost effective product comes as the plant’s feedstock costs continue to rise.
While the GTL refinery is a big part of a vertically integrated operation, which includes offshore gas production, the cost structure of the business is rising as the group moves to exploit more technically challenging offshore fields such as the FO offshore field or the Ikhwezi Project, according to the company.
PetroSA will begin producing from its FO field in October which will help the refinery with its much needed feedstock, however the field’s reserves are more costly to exploit than the average development.
The company is also working on another solution for its lack of feedstock problem; this solution comes in the form of an LNG receiving terminal near its Mossel Bay GTL facility.
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