Project Profile
Location: Off Durban on the east coast
Area: 2.8 million acres
Water Depth: 2072.64 m
ExxonMobil is soon to begin exploring for oil and gas off South Africa after hatching a farm-in deal with Impact Oil & Gas. ExxonMobil signed a deal with Impact to take a 75% chunk in the Tugela South Exploration Right, also becoming operator. This will see ExxonMobil soon begin exploring an area of around 2.8 million acres off Durban on the east coast in water depths ranging from the shore to 2072.64 metres. The Tugela Exploration Permit was secured following the 2009 4th Offshore Licensing Round. It is the most Northerly block of the Impact portfolio and sits offshore Durban, South Africa. It covers an area of 10,245 square km. The permit is named after the Tugela river which feeds down from the Karoo and enters the ocean at Durban. In Ocotber 2015, Statoil completed a farm-in transaction with ExxonMobil, acquiring a 35% interest in the ER 12/3/154 Tugela South Exploration Right.
Operators:
ExxonMobil: Operator with 40% interest
Statoil: 35% interest
Impact Oil & Gas: 25% interest