Petroleum Africa
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Wednesday, October 28, 2015
During a session at Global Pacific & Partners Africa Oil Week taking place in Cape Town, Varsha Singh, acting VP, New Ventures Upstream at South Africa’s state-run oil and gas firm PetroSA, revealed that the company was looking for partners on a number of its blocks.
PetroSA, is looking to sell equity stakes in its offshore West Coast blocks. Among the stakes on offer is the E-BK gas field which currently has 44 Bcf of proven reserves and the company expects to begin production in 2019. Also on offer is the E-CB oil and gas field. First production is slated for 2020.
Block 9 North is another one of the blocks that the state-run firm is looking to farm down. The block is located near the company’s GTL refinery at Mossel Bay and is estimated on the conservative side to contain 1.2 Tcf of gas.
Singh said that PetroSA is “in a position of pressure to get gas into the system,” to feed its power hungry grid and refineries.
Singh added that PetroSA is looking to spud on Block 1 sometime in 2017 to test its prospectivity. She also said that the company’s assets in Ghana are a priority and that PetroSA would focus on medium risk exploration in the medium term.
In addition the company is looking to enter into service-type partnerships with robust and capable partners.
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