ExxonMobil to Start Exploration Activities Offshore South Africa

ExxonMobil to Start Exploration Activities Offshore South Africa

Exxon Mobil Corporation 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.”

Press Release, December 18, 2012

Share this article

Follow Subsea World News

Events>

<< Sep 2015 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 1 2 3 4

POWER-GEN Asia

POWER-GEN Asia has, over its 23 year history, become the leading force in delivering a platform for the power industry to meet, share…

read more >

NATIONAL FLUID POWER CENTRE

The Course includes Practical Electro-Hydraulic Circuit Construction, setting-up procedures, testing & fault diagnosis…

read more >

ROV Pilot Tech

The training facilities include a 10 student electronics lab and a 10 student mechanical workshop all under 2000m2…

read more >

Subsea Management Training

This program focuses on the fundamentals of running a subsea department. Topics include department administration, planning and execution…

read more >