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.
