News listings

energy-pedia licensing

South Africa flagSouth Africa

Middle East / Africa >>> South Africa

South Africa: Impact acquires 100 percent interest in Transkei and Algoa and Tugela South Exploration Rights


28 Oct 2020

Photo - see caption

Impact Oil & Gas, a privately-owned, African-focused, exploration company, has announced that its wholly-owned subsidiary, Impact Africa, has received approval from the Government of South Africa to take forward the Transkei & Algoa Exploration Right and the Tugela South Exploration Right, offshore South Africa, on a 100% operated basis.

ExxonMobil and Equinor elected to relinquish their 40% and 35% respective working interests in the Transkei & Algoa Exploration Right and the Tugela South Exploration Right. Following receipt of government consent, Impact took assignment of ExxonMobil’s and Equinor’s, 40% and 35% respective working interests in the Transkei & Algoa Exploration Right and the Tugela South Exploration Right on 20 October 2020.

Philip Birch, Exploration Director of Impact, commented:

'Impact sees significant exploration potential in South Africa, in particular in the Transkei and Algoa areas, where recent data has allowed us to map some very exciting leads.'

The Transkei block benefits from 12,000km of 2D seismic data, acquired in 2013 and 2018. During March this year, the Transkei & Algoa joint venture received all of the 2D seismic data, processed to depth. Impact is encouraged by the results of its interpretation of this data and sees world class hydrocarbon potential. Impact has applied to enter the Second Renewal Period and has high-graded areas for the acquisition of 3D seismic over the Transkei area.

Siraj Ahmed, CEO of Impact Oil & Gas, commented:

'Southern Africa is a strategically important exploration province for Impact, so we are delighted to be taking forward the exploration of these blocks. We thank the teams at ExxonMobil and Equinor for their collaboration and invaluable contributions to our exploration of these area. Impact is now focused on building upon the substantial work done to date by the previous JV partnership and progressing our active farm-out process.'

Transkei & Algoa, offshore South Africa

Exploration Right 12/3/252, Transkei & Algoa is located offshore eastern South Africa and covers approx. 45,838 sq km in water depths up to 3,000 metres. The licence was initially awarded to Impact as a Technical Cooperation Permit in 2012, followed by an application for an Exploration Right, which was granted in 2014.

Tugela South, offshore South Africa

Exploration Right 12/3/154, Tugela South is located offshore eastern South Africa and covers an area of approx. 9,054 sq km in water depths up to 1800 metres.

Original article link

Source: Impact Oil & Gas





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 373

Completed Deals

Completed Upstream Deals: 5961

Company Profiles

Current Company Profiles: 2745

Corporate Activity

Current Corporate Activity articles: 3564

Companies Looking

Current number of articles: 444

Company Sales

Current Company Sales articles:1443

Geostudies

Current Geostudies articles: 766

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

SLR Consulting logo
Bayphase
OPC
Government of South Australia
KL Publishing
Union Jack Oil 149
energy365
Rose & Assocs 149
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com