Mozambique Oil & Gas: Sasol reports successful results after light oil and natural gas wells tests

The South African company Sasol has announced that it has successfully drilled and tested four light oil and two natural gas wells in Inhambane province, southern Mozambique, according to Lusa agency reports.

A statement from Sasol distributed in Maputo today states that the situation regarding the company’s research in Mozambique was made by Bongani Nqwababa and Stephen Cornell, co-chairs and CEO of Sasol, respectively, during a press conference held in Johannesburg.

“By the end of the financial year [June 31], four light oil wells and two gas wells have been successfully drilled and tested in Mozambique,” the statement said, citing the two Sasol officials.

The statement said that the sites where light oil and natural gas were discovered are part of 13 wells to be drilled, in an investment of about 384 million dollars made by the company so far (325.8 million euros).

“In Mozambique, gas reserves have been found to meet expectations,” the statement added.

Sasol also notes that it has made significant progress in Tranche 1 of the Production Sharing Agreement (PSA) development plan approved by the Mozambican Council of Ministers on January 26, 2016.

The gas fields that Sasol is researching in Inhambane could join the gas reserves the company has been exploring for more than two decades in Temane and Pande in the same region.