Sasol Partners with Eni to Explore Hydrocarbon Opportunities Along South Africa's East Coast

PR57005

JOHANNESBURG, Jun. 10 /PRN=KYODO JBN/--

    Today, Sasol Petroleum International, the upstream oil and gas subsidiary

of Sasol Limited (Sasol), announced that it has concluded a farm-out to Eni SpA

(Eni), an Italian multinational oil and gas company, for the exploration right

permit 236 (ER236) in South Africa.

    The permit was granted to Sasol in November 2013 by the Petroleum Agency of

South Africa for an initial period of three years. The permit grants the right

to explore for hydrocarbons along South Africa's East coast in the Durban and

Zululand basins offshore Kwazulu-Natal province.

    In terms of the farm-out, Sasol will transfer a 40% interest in ER236 and

operatorship to Eni. Sasol will retain a majority 60% interest. The agreement,

which is subject to government approval, signals greater cooperation between

Sasol and Eni in Southern Africa.

    "The establishment of our partnership with Eni in respect of our offshore

South African interests complements Sasol's strategy to develop sustainable

energy solutions, which will serve to ensure all-important economic growth and

development in southern Africa and the broader region. In addition, accelerated

exploration activity, as represented by ER236, will have many positive benefits

for South Africa and the broader region, in terms of energy security and

increasing levels of international investment," said David Constable, Chief

Executive Officer, Sasol Limited.

    Eni is among a number of international energy companies to have recently

entered South Africa, which is currently the continent's largest oil importer.

    Forward-looking statements: Sasol may, in this document, make certain

statements that are not historical facts and relate to analyses and other

information which are based on forecasts of future results and estimates of

amounts not yet determinable. These statements may also relate to our future

prospects, developments and business strategies. Examples of such

forward-looking statements include, but are not limited to, statements

regarding exchange rate fluctuations, volume growth, increases in market share,

total shareholder return and cost reductions. Words such as "believe",

"anticipate", "expect", "intend", "seek", "will", "plan", "could", "may",

"endeavour" and "project" and similar expressions are intended to identify such

forward-looking statements, but are not the exclusive means of identifying such

statements. By their very nature, forward-looking statements involve inherent

risks and uncertainties, both general and specific, and there are risks that

the predictions, forecasts, projections and other forward-looking statements

will not be achieved. If one or more of these risks materialise, or should

underlying assumptions prove incorrect, our actual results may differ

materially from those anticipated. You should understand that a number of

important factors could cause actual results to differ materially from the

plans, objectives, expectations, estimates and intentions expressed in such

forward-looking statements. These factors are discussed more fully in our most

recent annual report under the Securities Exchange Act of 1934 on Form 20-F

filed on 9 October 2013 and in other filings with the United States Securities

and Exchange Commission. The list of factors discussed therein is not

exhaustive; when relying on forward-looking statements to make investment

decisions, you should carefully consider both these factors and other

uncertainties and events. Forward-looking statements apply only as of the date

on which they are made, and we do not undertake any obligation to update or

revise any of them, whether as a result of new information, future events or

otherwise.

    About Sasol:

    Committed to excellence in all we do, Sasol is an international integrated

energy and chemical company that leverages the talent and expertise of our more

than 34 000 people working in 37 countries. We develop and commercialise

technologies, and build and operate world-scale facilities to produce a range

of product streams, including liquid fuels, high-value chemicals and low-carbon

electricity.

    While remaining committed to our home-base of South Africa, Sasol is

expanding internationally based on a unique value proposition.

    Issued by:

    Alex Anderson, Group Media Manager

    Direct telephone +27-(11)-441-3295; Mobile +27-(0)71-600-9605;

    alex.anderson@sasol.com

    Jacqui O'Sullivan, GM: Group Communication

    Direct telephone +27-(11)-441-3252; Mobile +27-(0)82-883-9697;

    jacqui.osullivan@sasol.com

SOURCE: Sasol