Sasol Returns Exploration License Offshore Mozambique

Manuel Mucari
Monday, July 6, 2020
Image Credit: Sasol - The image has been cropped

South African petrochemicals giant Sasol Ltd has opted to give up its license to explore for gas off the Mozambique coast, the company said on Sunday.

"Sasol will return Block 16/19 in its entirety to the Government of Mozambique. To this end, a withdrawal notification has already been sent to the relevant Mozambican authorities", the firm said in a statement.

Sasol was awarded the research license in 2005. In 2013 it abandoned the deep water part of the license, retaining the shallow water allotment to assess its hydrocarbon potential.

It is still exploring for gas onshore in the fields of Pande and Temane, in the northern province of Inhambane.

Sasol, the world's top producer of motor fuel from coal, is trying to shed assets to pay off its debt pile and avoid a rights issue of up to $2 billion. 

(Reporting by Manuel Mucari, Editing by Timothy Heritage)

Categories: Energy Activity Africa Exploration

Related Stories

Libya, Turkey Sign MoU To Conduct Offshore Geophysical Study

Libya, Turkey Sign MoU To Conduct Offshore Geophysical Study

Gimi FLNG Enters Commercial Ops at BP’s GTA Project off Western Africa

Gimi FLNG Enters Commercial Ops at BP’s GTA Project off Western Africa

Solstad Offshore’s Two CSVs Get Jobs in South America

Solstad Offshore’s Two CSVs Get Jobs in South America

Current News

BOEM Looks to Open 80 million Acres for Oil and Gas Lease Sale

Libya, Turkey Sign MoU To Conduct Offshore Geophysical Study

Japanese Firm Joins Floating Wind Demo off Spain

SLB OneSubsea Gets Work on Northern Lights CCS Project Expansion

Subscribe for OE Digital E‑News

Offshore Engineer Magazine