PetroSA

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
PetroSA
Public
IndustryOil and gas industry
Founded1965
Headquarters151 Frans Conradie Drive,
Parow, Cape Town
,
Key people
Nhlanhla Gumede (Interim Chairman)
Kholly Zono (Acting Group CEO)
ProductsPetroleum
Natural gas
Petroleum products
RevenueR 10.357 Billion (2017)
R (1.165) Billion (2017)
R (1.608) Billion (2017)
Total assetsR 17.158 Billion (2017)
Total equityR 2.528 Billion (2017)
OwnerGovernment of South Africa
Number of employees
1,594 (2017)
ParentCentral Energy Fund
Websitewww.petrosa.co.za

PetroSA (The Petroleum, Oil and Gas Corporation of South Africa SOC Ltd.) is the national oil company (NOC) of South Africa. Its main activities are the extraction of natural gas from offshore fields about 89 km from Mossel Bay, the production of synthetic fuels from this gas through a gas to liquids (GTL) process, and the extraction of crude oil from oil fields off the South Coast of South Africa.[1] The GTL Refinery is located in Mossel Bay. Its capacity is about 45 000 bpd and processes both the gas and condensate to produce liquid fuels and chemicals. The company is also involved in the Exploration and Production (E&P).

History[edit]

PetroSA was formed in January 2002 from the merger of three previous entities: Mossgas (Pty) Limited, Soekor (Pty) Limited, and parts of the Strategic Fuel Fund Association. Soekor was divided into parts to provide staff for PetroSA and also for the Petroleum Agency of South Africa, otherwise known as PASA. Here are some of the key milestones leading up to this historic merger:

  • 1965 - Following the establishment of Soekor, the first land search for oil commences in Beaufort West, Western Cape. Small accumulations of oil are found, but they are non-commercial.
  • 1969 - First offshore well drilled by Superior Group. Natural gas deposits are also discovered in the continental shelf complex off the Southern Cape coast.
  • 1970 - Soekor commences offshore drilling in a joint venture with Rand Mines and US Natural Resources.
  • 1973 - Soekor drills its own first offshore well.
  • 1978 - Soekor terminates its land search for oil.
  • 2002 - President Thabo Mbeki launches PetroSA, the Petroleum Oil and Gas Corporation of the Republic of South Africa.

[2]

Recent Events[edit]

  • 2017 - PetroSA signed $400m deal with Russian exploration company Rosgeo.[3]
  • 2018 – Energy Minister of South Africa, Jeff Radebe rejected PetroSA's proposal to purchase 23 million barrels of oil from Kase Lawal for $1.52 billion over a 5 year period, deeming the deal too risky.[4]

Soekor[edit]

Soekor Pty Ltd. was South Africa's national oil company until 2002, when it was merged with Mossgas Pty Ltd to form PetroSA.[5] Soekor was the operator and developer of the first oilfield development in South Africa, the Oribi field discovered in 1990.[6] Soeker owned 80% of the field's exploration licensing.

Petroleum Agency of South Africa[edit]

Petroleum Agency of South Africa (PASA) is the state-regulator in the field of on-shore and off-shore oil and gas exploration.[7] In June 2018 PASA imposed temporary licensing restrictions in order to reform the country's oil and gas exploration licensing system.[8]

Leadership[edit]

PetroSA Leadeship
Chairman Chief Executive Officer
Term Name Term Name
2002-2010 Popo Molefe 2002-2010 Sipho Mkhize
2011-2012 Benny Mokaba 2011 Yekani Tenza
2013-2014 Szwe Mncwango 2012-2015 Nosizwe Nokwe
2015 Gillian Nonhlanhe Jiyane 2016 Mapula Modipa
2016 Bhekabantu Wilfred Ngubane 2017-2018 Kholly Zono
2017-2018 Nhhlanhe Gumede

References[edit]

  1. ^ "PetroSA". CEF. Retrieved 25 December 2011.
  2. ^ "Archived copy". Archived from the original on 2012-06-24. Retrieved 2012-09-10.CS1 maint: Archived copy as title (link)
  3. ^ "PetroSA signs $400m deal with Russian exploration company". www.enca.com. Retrieved 2018-03-12.
  4. ^ Skiti, Sabelo. "Minister halts R22bn PetroSA deal". The M&G Online. Retrieved 2018-10-21.
  5. ^ "Historic Milestones". www.petrosa.co.za. Retrieved 2018-10-21.
  6. ^ "Soekor Nears Completion of S. Africa's First Oil Field Development". www.ogj.com. Retrieved 2018-10-21.
  7. ^ "HomePage". www.petroleumagencysa.com. Retrieved 2018-10-31.
  8. ^ "South Africa imposes licensing restrictions". www.petroleum-economist.com. Retrieved 2018-10-31.

External links[edit]