Africa Energy has announced that the Company, through its investment in Main Street 1549 Pty Ltd, has formally become the operator of Block 11B/12B offshore South Africa.
Main Street is currently in the process of obtaining all the important information from the previous operator, including drilling, reservoir and development engineering data. Main Street is in the process of completing the Environmental and Social Impact Report ('ESIR') and expects to submit the ESIR in the first quarter of 2025. The approval of the Production Right application will not occur until after the Block 11B/12B joint venture receives environmental authorization in respect of the ESIR.
Main Street currently holds a 10% interest in Block 11B/12B. In light of the withdrawal of the joint venture partners as announced July 29, 2024, and subject to all relevant regulatory approvals by South African authorities, Main Street expects to hold 100% interest in Block 11B/12B.
Source: Africa Energy
