Sasol considers PNG exit

SOUTH African gas-to-liquids specialist Sasol may completely exit Papua New Guinea by selling its remaining licence acreage.
Sasol considers PNG exit Sasol considers PNG exit Sasol considers PNG exit Sasol considers PNG exit Sasol considers PNG exit

Sasol Petroleum International entered PNG's oil and gas scene in August 2008 after acquiring a 51% interest in four petroleum prospecting licences from Perth-based Lion Energy, with Papua Petroleum owning the remaining stakes.

SPI operated the failed Awapa-1 exploration well (51%) in PNG's Western province in 2011 and last year relinquished a considerable amount of its licence position, with Kina Petroleum and Cott Oil & Gas picking up a lot of this ground in new licences in the foreland region of southwest PNG.

As of September 2012, the Department of Petroleum and Energy's licence map revealed that Sasol only had one licence under its name - PPL 287.

Recent news suggested Sasol could completely exit PNG.

"Sasol is considering divesting from Papua New Guinea," a Sasol spokesperson told Bloomberg on Friday.

"We are currently engaging interested parties."

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