Sasol Petroleum Acquires 51% Working Interest in PNG Licenses
South Africa-based Sasol Petroleum International has obtained a 51% working interest in four hydrocarbon prospecting licenses covering a land area of 37,000 square kilometers, close to established gas fields in the foreland area of Papua New Guinea. Seismic surveying is scheduled to commence in October 2008.
The exploration work will be carried out by newly formed Sasol Petroleum Papua New Guinea in blocks PPL285, PPL286, PPL287 and PPL288. Partners include Papua Petroleum, a Papua New Guinea (PNG) based exploration company.
During the past few years, Sasol Petroleum International (SPI) has successfully grown its business from securing and developing gas and liquid assets, primarily in Mozambique and West Africa, to an operational natural gas supplier to various Sasol businesses and external customers mainly in southern Africa.