Petroleum Africa
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Tuesday, February 28, 2017
South African frim Sasol could see oil production from its operations in Mozambique within two or three years. In its interim results the company reported that two of the wells drilled during the period in the Inhassoro reservoir resulted in the discovery of oil.
While Mozambique has massive natural gas deposits off its coast and gas production onshore by Sasol, until now oil has been elusive to explorers. The company has issued a “notice of discovery” to the government.
Co-chief executive Stephen Cornell said in the interim results announcement, “The tests conducted thus far have produced encouraging results. During the course of drilling the second well, we encountered previously unknown accumulations of hydrocarbons within the development and production area. This indicates the presence of both gas and oil.”
The company plans to continue its evaluation of the data. It will also be completing its drilling campaign, which should result in another eight or nine wells drilled.
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