“Sasol will return Block 16/19 in its entirety to the Government of Mozambique. To this end, a withdrawal notification has already been sent to the relevant Mozambican authorities”, the firm said in a statement.
Sasol was awarded the research licence in 2005. In 2013 it abandoned the deepwater part of the licence, retaining the shallow water allotment to assess its hydrocarbon potential.
It is still exploring for gas onshore in the fields of Pande and Temane, in the northern province of Inhambane.
Sasol, the world’s top producer of motor fuel from coal, is trying to shed assets to pay off its debt pile and avoid a rights issue of up to US$2 billion.
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/06072020/sasol-relinquishes-mozambique-offshore-gas-licence/
You might also like
PGGS has been awarded a 3D project in the Mediterranean for a major energy company. The Ramform Hyperion is scheduled to start the survey early March and the project has a total duration of approximately 30 days.