As Bloomberg reports, Royal Dutch Shell Plc plans to obtain an oil-block stake in a second deal in South Africa’s almost unexplored waters, following an important discovery that was achieved by Total SA that boosted the country’s hydrocarbon prospects.
Specifically, Shell aims to take a stake in a license owned by OK Energy, as a regulator from Petroleum Agency South Africa, informed Bloomberg that they have received an application which awaits ministerial approval.
Shell exited its Orange Basin permit two years ago, complaining that the South African laws are uncertain. Yet, the country recently announced that it will draft legislation for oil and gas.
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In the possibility that OK Energy’s deal proceed, it will add to the company’s acquisition of a 40% interest in deep-water blocks 5, 6 and 7 in the Atlantic off Cape Town from Anadarko Petroleum Corporation.
Total SA discovered gas in south Africa, a step that seems to be major in oil and gas industry; The oil company discovered approximately 1 billion barrels of oil east of Anadarko’s blocks.
