BHP Billiton awarded exploration rights offshore of South Africa's West Coast
According to Petroleum Agency SA CEO Mthozami Xiphu, left, the agency has issued a permit to BHP Billiton. BHP Billiton, PetroSA and Sasol have signed a new-order exploration rights agreement in respect of block 3A/4A, offshore of South Africa. The signature marked the conversion of subleases to exploration rights. BHP Billiton, which has a 60% interest in block 3A/4A and a 90% interest in block 3B/4B, is the operator of both blocks. The remaining equity on block 3A/4A is held by PetroSA (30%) and Sasol (10%).
Global Offshore Oil Exploration South Africa holds a 10% interest in block 3B/4B. Block 3A/4A is considered a shallow water block and block 3B/4B a deep water block. Both blocks are located northwest of Cape Town, off the western coast of South Africa. While the corner of block 3A/4A touches the coast, the area of primary interest is located 274 km offshore. Block 3B/4B is located to the west of block 3A/4A and the area of primary interest currently identified on this block is 379 km offshore. (Mining Weekly, 9/21/2010)