Oil giant considers offshore drilling options
The group could still examine the 1 000 square kilometers of 3D seismic data along with geology and geophysics studies over the next two years.
EXXONMOBIL Exploration and Production SA (EMEPSAL) is currently studying the results from several seismic surveys recently conducted off Zululand’s coastline to determine whether it will commence drilling operations on northern KZN seabeds.
The company shares the Tugela South Exploration Right with Statoil, which late last year acquired 35% interest, and Impact Africa (25%).
This right covers an area of approximately 9 054 square kilometers in water depth of up to 1 800 meters in the Zululand basin.
But EMEPSAL stated it is too early in the exploration phase to confirm whether there is oil and gas potential in the Tugela block to drill at all.
The group could still examine the 1 000 square kilometers of 3D seismic data along with geology and geophysics studies over the next two years.
‘Our exploration activities are in the early stages and involve scientific studies to better understand the rock formations that are below the seabed and if it is possible that those formations hold oil or gas,’ said EMEPSAL Public and Government Affairs Advisor, Miranda Anthony.
‘Exploration can take many years to determine if there are sufficient potential reserves to progress to an oil and gas drilling stage.
‘It is premature to comment on resource potential.
‘We have no plans to drill at this time, pending the results of the surveys and studies described above and will then assess next steps.
‘If and when drilling does take place, it would involve thorough environmental and safety analyses and planning, consistent with the laws of South Africa, ExxonMobil’s internal processes and procedures and industry best practices.’
Anthony said if there are any significant upstream oil and gas developments, it will create lasting economic and social benefits.
‘Long term, it should create local employment opportunities and will help advance development.
‘We look forward to working with our co-venturers and the Government of South Africa to safely explore potential offshore areas.’
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