Sasol: Mozambique oil to flow next year

Mozambique’s first commercial production and sale of crude oil was set for next year from a small but profitable inland oil field at Inhassoro, a senior official at Sasol said yesterday. Ebbie Haan, Sasol Petroleum International’s managing director, said: “If we were to develop [the field] with one or two wells in the first phase, we would be talking about multiples of 1 100. So if we drill two wells, you probably get 2 000 barrels a day.” Haan said Sasol planned to invest about $2.4 billion (R24.4bn) in Mozambique for a variety of projects until 2018, when the country is expected to export its first cargoes of liquefied natural gas. Sasol produced over 236 000 barrels of light oil as part of an appraisal programme at Inhassoro. Sasol shares closed 1 percent up at R505. – Reuters