Cape Town, 08 August 2010 – PetroSA, South Africa’s National Oil Company (NOC), announced today that it had recently signed, a Technical Cooperation Permit (TCP) with the Petroleum Agency of South Africa, for the offshore Block 5/6, which is located within the Orange Basin, along the South Western margin of South Africa.
Block 5/6, a frontier area, covers approximately 93 000 km2 and ranges in water depth from 100 m to just over 4000 m. The TCP, which extends from July 2010 to July 2011, offers PetroSA, the exclusivity to apply for an exploration right over the block.
The work that PetroSA will conduct during the TCP includes geochemical analysis, basin modelling and Apatite Fission Track Analysis in order to evaluate the hydrocarbon prospectivity of the acreage. Fugro-Robertson and Geotrack, two world renowned petroleum and geochemical analysis companies, have been contracted to conduct these geochemical evaluations.
Everton September, PetroSA’s Vice President of New Ventures: Upstream, welcomed the TCP.
“This new TCP will build on the track record of the first TCP, and represents a great opportunity to expand reserves in a key location for supplying South Africa’s energy needs. PetroSA is excited at the opportunity to evaluate numerous leads on the existing seismic database,” he said.
For more information kindly contact:
South Africa Regional Manager - New Ventures Upstream
Cell: +27 (0) 83 640 5977
Office: +27 (0) 21 929 3110
Fax: +27 (0) 21 929 0222