ExxonMobil inks deal to begin exploration offshore South Africa

Posted on 18 December 2012

ExxonMobil Exploration and Production South Africa will soon begin exploration activities offshore South Africa. The company has signed an agreement with Impact Africa Ltd, a subsidiary of Impact Oil & Gas Ltd, to acquire a 75% participating interest in the Tugela South Exploration Right and will become operator to begin exploration activities.

Under the agreement, the ExxonMobil affiliate also has the right to acquire 75% 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 approval by the South African government.

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

Separately, the ExxonMobil affiliate has also 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.”

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 31 July 2014

    Eni discovers gas and condensates offshore Gabon

    Eni has made a gas and condensates discovery in the Nyonie Deep exploration prospect in block D4, approximately 13 km offshore Gabon and 50 km from the capital city Libreville...

  • 31 July 2014

    Blue Ocean Technologies: Subsea well intervention completed in 6,700- ft record depth

    Blue Ocean Technologies has set multiple records in subsea well intervention by intervening in, and subsequently plugging and abandoning, a production gas...

  • 30 July 2014

    Fugro’s DeepData pod provides data for deepwater riser monitoring

    Fugro has delivered a motion dataset from the BOP stack and lower riser of two deepwater wells in the Barents Sea using its DeepData pods. The DeepData pods...

  • 28 July 2014

    SDI completes 500th MagTraC MWD Ranging project

    Scientific Drilling International (SDI) has completed the 500th MagTraC MWD Ranging project. MagTraC was introduced in 1998 to target challenging applications...

  • 28 July 2014

    Modular offshore rig design reduces deployment costs

    William Jacob Management (WJM) has introduced an offshore rig design that reduces deployment costs and improves speed-to-market for upstream operations. The 3,000-hp...

  • Read more news