Sasol Limited (JSE: SOL; NYSE: SSL): Sasol to Explore for Hydrocarbons in Papua New Guinea
03 September 2008 - 2:02PM
PR Newswire (US)
JOHANNESBURG, South Africa, Sept. 3 /PRNewswire-FirstCall/ -- Sasol
Petroleum International (SPI) 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
Limited, a Papua New Guinea based exploration company. "This is an
exciting opportunity to unlock potential natural gas resources in
Papua New Guinea. We look forward to working with our new partners
and the government of Papua New Guinea," says Sasol Group GM Lean
Strauss. During the past few years, SPI has successfully grown
their 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. As part of Sasol's growth strategy, SPI
is spreading its footprint beyond Africa to significantly increase
its hydrocarbon resources by securing new gas reserves to enable
the achievement of Sasol's gas-to-liquids (GTL) ambitions. Sasol
Investor Relations team Tel.: +27 11 441 3113 / 3563 / 3321 About
Sasol: Sasol is an integrated oil and gas company with substantial
chemical interests. Based in South Africa and operating worldwide,
Sasol is listed on the NYSE and JSE stock exchanges. We are the
leading provider of liquid fuels in South Africa and a major
international producer of chemicals. Sasol uses proprietary
Fischer-Tropsch technologies for the commercial production of
synthetic fuels and chemicals from low-grade coal and natural gas.
We manufacture more than 200 fuel and chemical products that are
sold worldwide. In South Africa we also operate coal mines to
provide feedstock for our synthetic fuels plants. Sasol operates
the only inland crude oil refinery in South Africa. The group
produces crude oil in offshore Gabon, supplies Mozambican natural
gas to end-user customers and petrochemical plants in South Africa,
and with partners involved in gas-to-liquids fuel joint ventures in
Qatar and Nigeria. Internet address: http://www.sasol.com/
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events or otherwise. DATASOURCE: Sasol Limited CONTACT: Sasol
Investor Relations team, +27-11-441-3113, or +27-11-441-3563, or
+27-11-441-3321, Web site: http://www.sasol.com/
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