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Thursday, October 23, 2014
State-run oil and gas firm PetroSA out of South Africa, has seen its GTL production slip at its Mossel Bay plant. The drop in production is attributed to inadequate feedstock supplies.
PetroSA saw 14% less refined product produced in the 2013/2014 year than budgeted. The company produced 5.8 million barrels during the year at the GTL facility, although the plant has a nameplate capacity of around 15 million barrels. The feedstock constraint that troubled the state-run firm over the past year will continue into the future according to the firm.
The company’s CEO, Nosizewe Nokwe-Macamo, told lawmakers that various initiatives had been launched aimed at sustaining production. The initiatives include the drilling of a five-well program on the Ikhwezi project and “the Asset Development Plan, [which is] an initiative to look at alternatives to sustain the GTL refinery, and a project to import LNG to South Africa,” Nokwe-Macamo said.
“PetroSA has had a trying year with the main focus being on the sustainability of the refinery, given the declining gas feedstock. The sustainability of our refinery is critical as it not only contributes to the sustainability of our business but also to our total revenue,” Nokwe-Macamo added.
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