Eco (Atlantic) Oil & Gas has completed a farm down of a 13.75% participating interest in Block 3B/4B offshore South Africa to TotalEnergies and QatarEnergy.
This report on the petroleum industry in South Africa includes comprehensive information on supply, refining, crude oil storage reserves, and the distribution and retail of petroleum products, including lubricants, LPG, LNG and biofuels. There is information on the size of the industry in terms of production and consumption, pipeline transportation, wholesale and retail, and the state of the industry, including the effect of refinery closures, pricing and policy, new projects, divestment and government’s plans to revive the industry.
Impact Oil & Gas Limited has announced that its wholly-owned subsidiary, Impact Africa Ltd, has entered into an agreement with Silver Wave Energy to acquire its entire interest (10%) in Area 2, offshore South Africa.
Within the last few months, there’s been both good and bad news for South Africa’s oil and gas industry.
I’ll start with some good news: Shell, the UK-based giant, is optimistic that the vast hydrocarbon reserves discovered offshore Namibia extend into South Africa’s offshore zone. The company is so optimistic, in fact, that it asked the government earlier this summer for permission to bid on exploration rights for the Northern Cape Ultra Deep (NCUD) block in the Orange Basin.
Within the last few months, there’s been both good and bad news for South Africa’s oil and gas industry.
TotalEnergies has decided to withdraw from two oil and gas blocks offshore South Africa, with its partner in one of the blocks QatarEnergy also announcing its exit from the development.
South Africa’s industrial gas users are planning to form a company that will ensure supply after the sole provider of the fuel said it will halt the flow in 2026.
Shell Plc plans to explore an offshore South African oil block located across the maritime border with Namibia, where a number of discoveries have been made.
TotalEnergies plans to exit its discoveries of gas-condensate off the tip of South Africa to prioritise exploration in other areas closer to Namibia, according to people familiar with the matter.
South Africa’s purchase of the nation’s largest refinery from Shell Plc and BP Plc for a symbolic rand (five US cents) will transfer the environmental liability of the site to the government, according to a local advocacy group.