Sasol Signs Exploration Right Permit to Explore for Hydrocarbons in Durban and Zululand Basins, Offshore KwaZulu-Natal

AsiaNet 54985

JOHANNESBURG, South Africa, Nov. 13, 2013/ PRN=KYODO JBN / --

     Sasol, through its upstream oil and gas subsidiary, Sasol Petroleum

International, today signed an Exploration Right permit to explore for

hydrocarbons on the East Coast (Durban and Zululand basins), offshore

Kwazulu-Natal province, with the Petroleum Agency South Africa (PASA).

    The Exploration Right permit was granted by PASA for an initial period of

three years.

    The Durban and Zululand basins are of interest because they sit at the

southern end of the Mozambique Channel. Significant discoveries have recently

been made in the north of Mozambique, most notably in the Rovuma basin.

    "This is Sasol's first operated Exploration Right licence in South Africa

for at least a decade," said Ebbie Haan, Managing Director at Sasol Petroleum

International.

    He added that Sasol will ensure that a robust public consultation programme

is implemented during the assessment phase and that stakeholders' concerns will

be addressed. Sasol already has an exemplary track record in conducting

exploration of this nature. Offshore Mozambique, Sasol has conducted three

separate seismic surveys and drilled three wells with no negative impacts on

marine mammals, including the endangered dugong, whilst maintaining good

relationships with artisanal and commercial fisheries, as well as the tourism

and conservation sectors.

    In 2011, Sasol was granted a Technical Cooperation Permit (TCP 032) to

study and investigate the potential for hydrocarbons, in an area covering 83

000km[2].

    The granting of the Exploration Right (SPI: 100% interest) permit follows

the submission of a work programme in September 2012, followed by a high-level

Environmental Impact Assessment and Environmental Management Plan completed in

February this year.

    Sasol has already completed 4 000 kilometres of a 2D seismic survey in

terms of a programme covering an area of 5 950 km. The remainder will be

acquired in 2014, following which the results will be analysed and interpreted.

    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 35 000 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.

    About Sasol Petroleum International

    Sasol Petroleum International develops and manages the group's upstream

interests in oil and gas exploration and production in Mozambique, South

Africa, Canada, Gabon, Papua New Guinea, Botswana, Australia and Nigeria.

    SPI is driving the development of Sasol's upstream business to allow the

group to meet its strategic objective of accelerating the growth of its

proprietary gas-to-liquid (GTL) technology. In recent years we have taken a

number of steps to expand our global upstream portfolio, encouraged by the

global abundance of natural gas and the rapid development of the shale gas

industry, as well as the lower carbon intensity of natural gas. We are

investing in ventures ranging from onshore and offshore conventional and

unconventional shale and tight gas and coal-bed methane.

    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