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Completion of impact farm-out of Transkei & Algoa

Wednesday, September 1 2021

Fossil energy – South Africa

Impact Oil & Gas, a privately-owned, Africa-focused, exploration company, announced the completion of a farm-out transaction with Shell of a 50% working interest and operatorship in the Transkei & Algoa exploration right, offshore South Africa.

Following completion of the transaction, the participating interests in the Transkei & Algoa blocks are as follows: Shell (Operator), 50% and Impact Africa Limited, 50%.

Impact is also pleased to announce that the South African Government has granted the Second Renewal Period of the licence. This is a two-year exploration period that commenced in August 2021. Impact and Shell intend to proceed with the acquisition of approximately 6,000 km2 of 3D seismic during 2022.

Transkei & Algoa is located offshore eastern South Africa and covers approximately 45,838km² in water depths up to 3,000 metres.

The licence was initially awarded to Impact Africa Limited as a Technical Cooperation Permit in 2012, followed by an application for an Exploration Right, which was granted in 2014.

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Filed Under: farm out transaction, International News, Oil and Gas, Shell, South Africa Tagged With: farm out transaction, Impact Oil & Gas, Shell, South Africa, Transkei & Algoa


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