Sasol is looking to acquire more upstream acreage in West Africa.
The company’s only operated upstream acreages outside South Africa are in Mozambique. It has equity in upstream acreage in Gabon and is involved in a midstream project in Nigeria.
Sasol says it has strong basin knowledge in West Africa and it is building on existing relationships, assets and capabilities on the continent. In the last few years, it has strengthened its skilled team for the purpose for acquisitions.
It is one of the 16 companies looking to get an acreage through Ghana’s ongoing bidding round.
The company says it has a structured West Africa basin screening process. It has identified acquisition targets and has assessed both sub-surface and above ground risks. Sasol is investigating low-cost entry into targeted infrastructure-led exploration opportunities.
Its model for value delivery is to acquire new production assets with exploration running room; invest in the early part of exploration life cycle and farm down for value and realise asset option value through active management