{"id":20676,"date":"2025-12-08T12:14:22","date_gmt":"2025-12-08T10:14:22","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/petrosa-approves-shell-as-majority-partner-in-block-offshore-sa-document-shows\/"},"modified":"2026-02-27T16:31:56","modified_gmt":"2026-02-27T14:31:56","slug":"petrosa-approves-shell-as-majority-partner-in-block-offshore-sa-document-shows","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/petrosa-approves-shell-as-majority-partner-in-block-offshore-sa-document-shows\/","title":{"rendered":"PetroSA\u00a0approves Shell as majority partner in block offshore SA, document shows"},"content":{"rendered":"<div class=\"x_elementToProof\">South Africa&#8217;s (SA) legacy national oil company, PetroSA, has approved a deal to give Shell Offshore a 60% stake in its Block 2C, off the country&#8217;s west coast, a document seen by\u00a0<i>Reuters\u00a0<\/i>showed on Monday.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\">If successfully concluded, the agreement will strengthen oil major Shell&#8217;s exposure to the Orange Basin, which has become one of the world&#8217;s most coveted exploration zones after major oil discoveries in neighbouring Namibia.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\">A short note under PetroSA&#8217;s\u00a0priority programmes said the company had approved the farm in deal to allow Shell Offshore to take a 60% interest &#8220;with Shell committing a $25 million signing bonus and full cost carry (of around $135 to $150 million) for three wells&#8221;.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\">The Chief Executive at PetroSA, which holds 100% of Block 2C, pending the deal, did not immediately respond to a request for comment.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\">A Shell Spokesperson said commercial sensitivities prevented any comment on &#8220;specific opportunities&#8221;, but added the company was &#8220;continuously evaluating various portfolio options to grow our business&#8221;.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\">Shell is already aiming to explore along SA&#8217;s west coast and in July was granted environmental authorisation to drill up to five deep-water wells in the Northern Cape Province, Ultra Deep Block in the Orange Basin.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\">It has not said when any drilling will begin. In October Shell applied to appeal a high court decision blocking exploration in the west coast offshore Block 5,6,7, as a number of court cases brought by environmental groups delay planned drilling.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\">PetroSA, which this year was incorporated into the new SA National Petroleum Company, holds many assets, including offshore acreage and a gas-to-liquid plant at Mossel Bay in the Western Cape, which is under care and maintenance.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\">&#8211;Reuters&#8211;<\/div>\n","protected":false},"featured_media":20677,"template":"","meta":{"_acf_changed":false},"news-type":[78,44],"class_list":["post-20676","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-featured","news-type-finance","entry"],"acf":{"short_description":"","published_date":null,"news_description":"SA legacy national oil company PetroSA has approved a deal","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/20676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/20676\/revisions"}],"predecessor-version":[{"id":24631,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/20676\/revisions\/24631"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/20677"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=20676"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=20676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}