Sasol 'encouraged' by Moz gas find
Fri, 21 Nov 2008
Sasol Petroleum Sofala, a wholly owned subsidiary of Sasol Petroleum International, said results from its first exploration well, Njika-1, off Mozambique were encouraging as the presence of gas had been indicated.
"This is extremely encouraging news, but we still need to complete a significant amount of work before we can establish the commerciality of this discovery," Sasol Group general manager Lean Strauss said in a statement on Thursday.
"A development in the deep offshore areas of Mozambique will require large investments and gas finds have to be substantial in order to be economically viable.
"We will only be able to determine commerciality after extended testing and further appraisal work is done."
Sasol, as the operator, holds a 50 percent participating share in the licence.
Malaysian-owned Petronas holds a 35 percent interest, while the government of Mozambique represented by its national oil company, Empresa Nacional De Hidrocarbonetos De Mozambique, EP, holds the remaining 15 percent interest.
Drilling of Njika-1 commenced on 1 October 2008.
Sasol said it was planning a second well in the same licence area immediately after completion of Njika-1.
Sapa
