Sasol, through Sasol Petroleum International (SPI) the wholly owned upstream oil and gas subsidiary of Sasol Limited, declared a joint application with Statoil ASA and Chesapeake Energy Corporation for an onshore petroleum Exploration Right in South Africa. The Exploration Right application was officially submitted to the Petroleum Agency (SA) Ltd today and it is expected that it will take approximately 12 months to process.

The application is subject to the consideration and the approval of the South African government. If the Exploration Right is successfully awarded, the applicants will jointly commit to an exploration work programme.

The proposed exploration effort will be focused on finding potentially commercial recoverable shale gas resources in the Karoo Basin in the central region of South Africa.

Tags: Sasol, Statoil