It was reported earlier this week that an agreement has been signed between PetroSA and Russian exploration company Rosgeo. The deal was signed on the sidelines of a Brics meeting in China.
The deal amounts to R5.1 billion and will help build the South Africa's gas reserves. Rosgeo will use seismic and drilling vessels to explore South Africa’s south coast.
Dave Wright, Secretary General of the South African National Energy Association, says overall the deal is warranted because PetroSA is running out of gas, which it needs to continue operating.
The role PetroSA plays in the economy of the Southern Cape is important.— Dave Wright, Secretary General at the South African National Energy Association
Rosgeo has enormous expertise and experience which will be useful in the partnership and work to be done.— Dave Wright, Secretary General at the South African National Energy Association
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This article first appeared on 702 : PetroSA seals mega deal with Russian firm to help build SA's gas reserves