Shell Looking at South Africa

Sunday, June 2, 2019

Shell is looking to acquire acreage in South Africa the Petroleum Agency South Africa (PASA) confirmed to Bloomberg. The firm has applied to take a stake in OK Energy’s license in deep waters off the country’s west coast.

“We have indeed received an application which is awaiting ministerial approval,” PASA told Bloomberg.

According to reports, Shell could acquire a 40% stake from Anadarko Petroleum in deep-water block 5, 6, and 7 off Cape Town.

The news on Shell follows South Africa coming close to finishing separate oil and gas legislation. Shell had left the country’s Orange Basin two years ago due to policy uncertainty.

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