Shell resumes offshore exploration in South Africa with $150mn investment
Shell acquires 60% of Block 2C in the Orange Basin, commits to drilling three wells and paying a $25mn signing bonus to PetroSA, pending regulatory approval in South Africa.
| Sector | Gaz, Pétrole, Exploration production, Exploration production |
|---|---|
| Theme | Investissements & Transactions, Financement, Développement de projets |
Anglo-Dutch company Shell has reached an agreement to acquire a 60% stake in Block 2C, located in the Orange Basin off the coast of South Africa. The operation involves the state-owned Petroleum Oil and Gas Corporation of South Africa (PetroSA) and marks a gradual recovery in oil exploration activities in the region, following several years of legal deadlock.
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