Maputo, Mozambique – Sasol recently announced the completion of the first-ever 3-D onshore seismic programme in Mozambique. This involved the acquisition of 115 square kilometres (km2) of data in the Inhassoro field, which is part of the onshore Production Sharing Agreement (PSA) licence area.
To be developed in phases, the first phase of the PSA licence area development proposes an integrated oil, LPG and gas project adjacent to Sasol’s existing Petroleum Production Agreement (PPA) area. Sasol has made significant progress on Tranche 1 of the PSA Development as approved by the Council of Ministers on 26 January 2016.
Senior Vice President for Sasol Exploration and Production International, John Sichinga, highlighted that: “The acquisition of the 3-D seismic data in the Inhassoro field will significantly enhance our understanding of the structure of the oil accumulations through better resolution and more defined characterisation of the reservoir. While initial results appear encouraging, it is still too early to give further detail.”
Geofizyka Torun of Poland was contracted by Sasol to acquire 2D/3D seismic data using Vibroseis trucks. These send an acoustic wave into the ground and when the wave is reflected at boundaries between rock layers, an image of the subsurface is generated. The principles are similar to ultrasound technology used in the medical field. Future well locations can be optimised based on the generated images.
Sasol has previously conducted 3-D seismic surveys offshore Mozambique – 1 836 km2 and 2 100 km2 in the M10/ Sofala and Blocks 16/19 respectively – but this is the first time a 3-D seismic campaign has been conducted onshore.
The seismic acquisition programme now moves to the Pande field within the PPA licence area, where 42 km2 of 3D seismic data will be acquired.
Sichinga further provided an update on the PSA drilling campaign, saying that the drilling of the first two wells have been completed.
“The tests conducted thus far have produced encouraging results. During the course of the drilling of the second well, we encountered previously unknown accumulations of hydrocarbons within the development and production area, which indicate the presence of both gas and oil. We have issued a Notice of Discovery to the Mozambican authorities as per the PSA and will continue our evaluation of the data.”
Sasol may, in this document, make certain statements that are not historical facts and relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, developments and business strategies. Examples of such
forward-looking statements include, but are not limited to, statements regarding exchange rate fluctuations, volume growth, increases in market share, total shareholder return, executing our growth projects and cost reductions, including in connection with our Business Performance Enhancement Programme and Response Plan. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "endeavour", "target", "forecast" and "project" and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors are discussed more fully in our most recent annual report on Form 20-F filed on 27 September 2016 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider both these factors and other uncertainties and events. Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
Please note: A billion is defined as one thousand million. All references to years refer to the financial year ended 30 June. Any reference to a calendar year is prefaced by the word "calendar".
Comprehensive additional information is available on our website: www.sasol.com