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...
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