GETTING THE DEAL THROUGH – OIL AND GAS REGULATIONS

Wednesday, June 19, 2013
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The entity Geological Survey of South Africa initiated the original organised search for hydrocarbons in the Republic during the 1940s. The first oil company was established in 1884 for the purpose of, inter alia, the import of refined products. South Africa`s state oil company was established in 1965 and was named Soekor (Pty) Ltd (Soekor). The company explored areas of the Karoo, Algoa and Zululand Basins. In 1967 the Mining Rights Act was introduced and offshore concessions were granted to international companies. These companies included Total, Gulf Oil, Esso, Shell, ARCO, CFP and Superior. The first offshore well was drilled in 1969, and oil and gas were discovered by the Superior Group in the Pletmos Basin.

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