Offshore oil exploration on the West Coast of South AfricaMarch 29, 2009 by: admin
(Adds comment from the Petroleum Agency.)
JOHANNESBURG -(Dow Jones)- Petroleum Agency South Africa, the body in charge of oil and gas exploration in the country, will offer offshore areas for exploration from March 15.
The bidding round will close Sept. 30 for acreage in the Orange Basin off the west coast north of Cape Town and Tugela off the coast near Durban, the agency said in a statement on its Web site.
Companies have been invited to submit bids for either exploration rights or a technical cooperation permit, it said.
“The license round aims at increasing and sustaining South Africa’s current oil and gas production with a view to increasing the country’s level of self sufficiency and economic development,” the agency said.
David van der Spuy, resource evaluation manager at Petroleum Agency SA, said the notice of the fourth license round was posted toward the end of February, although most unlicensed acreage is available by direct application.
The last license round was held in 2007.
-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848; email@example.com