PetroSA
| Public | |
| Industry | Oil and gas industry |
| Founded | 1965 |
| Headquarters | 151 Frans Conradie Drive, Parow, Cape Town, South Africa |
Key people |
Bhekabantu Wilfred Ngubane (Interim Chairman) Siphamandla Kenneth Mthethwa (Acting CEO) |
| Products |
Petroleum Natural gas Petroleum products |
| Revenue | R 18,049 Billion (2015) |
| R (14,551) Billion (2015) | |
| Profit | R (14,335) Billion (2015) |
| Total assets | R 19,831 Billion (2015) |
| Total equity | R 4,137 Billion (2015) |
| Owner | Government of South Africa |
Number of employees | 1,720 (2015) |
| Parent | Central Energy Fund |
| Website |
www |
PetroSA (The Petroleum, Oil and Gas Corporation of South Africa SOC Ltd.) is the national oil company (NOC) of South Africa. Its main activities are the extraction of natural gas from offshore fields about 89 km from Mossel Bay, the production of synthetic fuels from this gas through a gas to liquids (GTL) process, and the extraction of oil from oil fields off the South Coast of South Africa.[1] The GTL Refinery is located in Mossel bay. It capacity is about 45 000 bpd and processes both the gas and condensate to produce liquid fuels and chemicals. The company is also involved in the Exploration and Production (E&P).
History
PetroSA was formed in January 2002 from the merger of three previous entities: Mossgas (Pty) Limited, Soekor (Pty) Limited, and parts of the Strategic Fuel Fund Association. Soekor was divided into parts to provide staff for PetroSA and also for the Petroleum Agency of South Africa, otherwise known as PASA. Here are some of the key milestones leading up to this historic merger:
- 1965 - Following the establishment of Soekor, the first land search for oil commences in Beaufort West, Western Cape. Small accumulations of oil are found, but they are non-commercial.
- 1969 - First offshore well drilled by Superior Group. Natural gas deposits are also discovered in the continental shelf complex off the Southern Cape coast.
- 1970 - Soekor commences offshore drilling in a joint venture with Rand Mines and US Natural Resources.
- 1973 - Soekor drills its own first offshore well.
- 1978 - Soekor terminates its land search for oil.
- 2002 - President Thabo Mbeki launches PetroSA, the Petroleum Oil and Gas Corporation of the Republic of South Africa.