Exploration & Production
Shell Committed To Spend $200 Million On Karoo Basin
Print
|
Cape Town - Royal Dutch Shell said on Thursday it hoped to invest $200m (about R1.4bn) to explore for shale gas in the Karoo - plans facing tough opposition from farmers and greens worried about the environmental impact.
Ecological concerns led the government to place a moratorium on oil and gas exploration licences in the region, where the controversial shale extraction technique of hydraulic fracturing or "fracking" might be deployed.
If exploration efforts prove that shale contains commercially producible gas volumes, then South Africa could see production from this source within a decade,” Jan Willem Eggink, general manager upstream ventures for Shell’s South African unit, told a news conference.
Petrochemical group Sasol, Anglo American and Falcon Oil and Gas are among those eyeing…Finish this article — free account or subscription
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
No credit card. Includes 15 days of full access to permits, deals, completions and presentations.
Already a subscriber? Log in