PetroSA reports low returns from latest Mossel Bay gas wells

Offshore staff

CAPE TOWN, South AfricaPetroSA has run up a net operating loss of R14.6 billion ($1.1 billion) for 2014/2015, due in large part to a disappointing offshore gas drilling program.

The company planned five wells to develop the F-O field, 40 km (25 mi) southeast of the F-A production platform off the southern coast of South Africa. It aimed to deliver 242 bcf of fresh reserves to boost dwindling hydrocarbon reserves feedstock for its Mossel Bay Gas-to-Liquids refinery.

However, at year-end Project Ikhwezi had only delivered 25 bcf of commercial gas from three wells.


Share your news with Offshore at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...