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Cape Town, 28 June 2010 - Following recent media reports, it has become necessary for PetroSA, the National Oil Company (NOC) of South Africa, to explain the rationale for purchasing tickets for the 2010 FIFA World Cup.

PetroSA last year took a strategic decision to utilise South Africa’s hosting of the 2010 FIFA Soccer World Cup, as a platform to engage, build and strengthen relationships with targeted local and international stakeholders. This decision was taken because PetroSA realises that the World Cup could be used as an excellent, once-in-a-lifetime opportunity to nurture these relationships, on home soil.

Some of these stakeholders include foreign government representatives, executives of counterpart National Oil Companies, customers and business associates. It is important to note that the reason for choosing these varied stakeholders is mainly because PetroSA’s business activities are spread across the world and industries.

The company has marketing offices in North America and Western Europe, with a client base that stretches all over the world. Furthermore the NOC is pursuing oil and gas exploration activities in countries such as Equatorial Guinea, Egypt, Venezuela, Angola, Nigeria and Namibia.

Experience has shown that to succeed in the tough and competitive oil and gas industry, there is a need to build and leverage strong  relationships and business networks.  Such relationships may well lead to longer-lasting strategic partnerships that ultimately improve PetroSA’s competitiveness as a commercial NOC.   
  
Hosting these stakeholders at the FIFA 2010 World Cup games is therefore critical to ensuring PetroSA successfully executes its business development activities. The company is confident that the networking sessions built around the world cup will assist the NOC in cementing its relationship with stakeholders and make it easier to conduct business.   
 
The cost of the tickets for the world cup was approximately R12, 5 million. The ticket prices were US dollar denominated. The total number of the tickets was about 1000. Purchasing the tickets has proven to be a wise investment decision, with PetroSA already accruing benefits that stand to advance the NOC’s strategic objectives.
 
For instance, following meetings with stakeholders invited to soccer games, PetroSA has been able to secure business discounts in excess of R50 million, in one area of our business. PetroSA is confident that the company stands to reap many more benefits from the investment it has made in the 2010 Soccer World Cup. 
 
The ticket package purchased by the company allowed PetroSA an opportunity to host these targeted stakeholders at games in Johannesburg, Port Elizabeth and Cape Town. About 50% of the tickets were allocated for usage by PetroSA staff.
 
PetroSA is a Proudly South African company that understands its obligations and mandate of creating shareholder value for the Government of the Republic and its citizens. The 2010 Soccer World Cup provided the company with an unprecedented opportunity to increase shareholder value.
 
PetroSA is convinced that the investment in the World Cup is contributing to the continued success of the company and will, ultimately, deliver a positive return, and assist in the greater goal of ensuring South Africa enjoys sustainable security of fuels supply.
 
For more information contact:
 
Thabo Mabaso
Company Spokesperson
PetroSA
Cell: 084-466-3942