International Petroleum VenturesStrategic Partnerships Optimization
International Petroleum Ventures
PetroSA is committed to supporting the achievement of African Union’s Agenda 63 by advancing various strategic partnerships on the African continent.
Advancing Gas Commercialisation
PetroSA continues to pursue strategic partnerships that will contribute to the enhancement of transitional energy infrastructure across Africa. The Europe Business Venture has been established to support the International Trading Business and grow PetroSA’s footprint globally.
BRICS is a partnership of leading emerging markets and developing countries, founded on historical bonds of friendship, solidarity and shared interests. PetroSA has various partnerships within the partnership of the five formidable countries. The strategic arrangements have been entered into in aim of advancing the oil and gas sector for long term sustainability.
Various Partnerships Driving The Oil & Gas Industry Initiatives
In June 2011, PetroSA signed an MoU with Italian integrated energy company, Eni. Among other initiatives, we will explore the possibility of co-operating on projects elsewhere in Africa; investigate joint proposals for importing liquid natural gas (LNG); and join forces upstream to develop conventional and unconventional hydrocarbons. The agreement also anticipates that Eni could supply crude oil and refined products to South Africa.
In July 2011, PetroSA signed an MoU with the Korea National Oil Corporation (KNOC). The agreement will ensure our two companies co-operate on the exchange of commercial and technical information about hydrocarbon exploration and production in South Africa and the rest of the continent.
Andarko Petroleum Corporation
In December 2011, PetroSA signed a farm-out agreement with US-based Andarko Petroleum Corporation. Under the agreement, Andarko will acquire a share in PetroSA’s equity interest in Blocks 5, 6 and 7 offshore south-west South Africa. Andarko will operate these blocks with an 80% working interest and will acquire 2-D seismic visuals during the first exploration phase.
The National Petroleum Corporation (NAMCOR) signed a Memorandum of Understanding with The Petroleum Oil and Gas Corporation of South Africa (PetroSA). The purpose of the MOU is to develop and cooperate on suitable business opportunities regarding both the Upstream and Downstream sectors. Both parties have agreed to cooperate in various initiatives, assessing and identifying various synergies in production sharing. These would include purchasing and marketing crude oil and refined products to be supplied within Southern Africa and the SADC region.
The South African Petroleum Industry Association is a key partner and strategic stakeholder of PetroSA in driving the security of energy supply for South Africa. The partnership extends in all areas of cooperation which ensure maximum returns for the industry at large.
Africa Free Trade
As a leading African Energy Company, PetroSA is committed to supporting the achievement of the African Union’s Agenda 63 by advancing various strategic partnerships in the African continent. PetroSA has partnered with the African Continental Free Trade Area (AFCTA) to ensure delivery of the Africa century through partnerships that will ensure regional integration.
Department of Energy
The Department of Energy (DoE) is the South African government department with responsibility for the country’s energy policy. It was established in 2009 when the former Department of Minerals and Energy was divided into the Department of Energy and the Department of Mineral Resources. PetroSA is guided by the ministry’s energy plan for South Africa.