Exploration & Production

PetroSA’s Russian connection causes a stir

A $400 million exploration deal between Rosgeo and PetroSA has caused some surprise but could prove a lifeline for South Africa’s beleaguered NOC A $400 million exploration deal between Rosgeo and PetroSA has caused some surprise but could prove a lifeline for South Africa’s beleaguered NOC.
By Leigh Elston 18 September 2017 0 27602
Seismic survey vessel A Rosgeo vessel. (Rosgeo)

The selection of little-known Russian geological firm Rosgeo to carry out exploration work off South Africa’s southern coast has raised eyebrows among domestic players.

Rosgeo signed an agreement in early September to invest $400 million to explore for gas offshore. The deal marks not only Rosgeo’s first foray into Africa, but also its first outside Russia. Rosgeo will carry out more than 4,000 square kilometres of 3D seismic operations and over 13,000 km of gravity-magnetic exploration works, and will also drill exploratory wells in blocks 9...