SA sets sights on Egypt oil

South Africa is set to explore more opportunities in Africa’s oil-rich countries, with government planning to use President Jacob Zuma’s visit to Egypt later this month to discuss possible future oil deals.

International Relations and Cooperation Minister Maite Nkoana-Mashabane confirmed this week that further discussions for oil exploration by PetroSA in Egypt will be on the agenda when Zuma visits that country on 19 October.

PetroSA, the largest national oil company, recently revealed its plans to pursue investment opportunities internationally, with a special focus on Africa.

A pioneer in gas-to-liquids (GTL) technology, the company is currently at an advanced stage of a project that could see the establishment of a world-class crude refinery in the Eastern Cape. The project, known as Project Mthombo, will create the biggest refinery on the continent.

(Source: BuaNews)


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