ExxonMobil to explore offshore South Africa

Source: Exxon Mobil Corporation
south africa

Exxon Mobil Corporation (NYSE:XOM) announced today that its affiliate, ExxonMobil Exploration and Production South Africa Limited, will soon begin exploration activities offshore South Africa.

The ExxonMobil affiliate signed an agreement with Impact Africa Limited (Impact), a subsidiary of Impact Oil & Gas Limited, to acquire a 75 percent participating interest in the Tugela South Exploration Right and will become operator. Under the agreement, the affiliate also has the right to acquire 75 percent participating interests in future exploration rights in three offshore areas covered by technical cooperation permits currently held by Impact. These exploration rights and the affiliate’s participating interest in them are subject to South African government approval.

The Tugela South Exploration Right covers approximately 2.8 million acres offshore Durban on the east coast of South Africa with water depths extending from the coastline to approximately 6,500 feet. The future exploration rights cover an additional 16 million acres offshore with water depths extending from the coastline to approximately 9,800 feet.

Separately, the ExxonMobil affiliate also has executed a technical cooperation permit with the South African government to study the hydrocarbon potential of the Deepwater Durban Basin covering approximately 12.4 million acres offshore Durban. A technical cooperation permit is an exclusive right to study an area for one year. The ExxonMobil affiliate can apply to the South African government for an exploration right if it chooses to explore this area further.

“We look forward to working with Impact and the South African government to explore for oil and gas in this new area for ExxonMobil,” said Stephen M. Greenlee, president of ExxonMobil Exploration Company. “We believe South Africa has significant potential and we will continue to look for additional opportunities there.”

Email Newsletter icon, E-mail Newsletter icon, Email List icon, E-mail List icon Sign up for our Email Newsletter
For Email Marketing you can trust

Whitepapers

Top 20 Controls ICS Implementation Guide

Considering the complexity and scope of today’s critical control environment, compliance has beco...

Five Steps to Build an Effective Threat Intelligence Capability

Against today’s mutating threat landscape and sophisticated cybercriminals, security and risk (S&...

Big Data: Business Insight for Power and Utilities

With this paper Microsoft aims to distill the Big Data drivers, challenges, and opportunities for...

Mobility Innovations for the Next Generation Utility

Utilities are experiencing rapidly changing field mobility requirements as they race to keep up w...

Latest Energy Jobs

View more Job Listings >>

Archived Articles

PennEnergy Articles
2008 | 2009 | 2010 | 2011 | 2012 | 2013

OGJ Articles
2011 | 2012 | 2013

OGFJ Articles
2011 | 2012 | 2013

Power Engineering Articles
2011 | 2012 | 2013

Power Engineering Intl Articles
2011 | 2012 | 2013

Utility Products Articles
2011 | 2012 | 2013

HydroWorld Articles
2011 | 2012 | 2013

COSPP Articles
2011 | 2012 | 2013

ELP Articles
2011 | 2012 | 2013