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Business/Finance
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Title: Russian firm seals energy exploration deal to drill South African shelf
Source: [None]
URL Source: https://www.rt.com/business/401973- ... -russia-africa-drilling-shelf/
Published: Sep 5, 2017
Author: staff
Post Date: 2017-09-05 04:02:27 by Tatarewicz
Keywords: None
Views: 434
Comments: 3

RT... Russia’s geological research company Rosgeo and South African national oil company PetroSA have signed an offshore drilling agreement on the sidelines of the of the BRICS Summit in Xiamen, China.

The deal is worth an estimated $400 million over the next 10 years. Read more © Evgeny Biyatov Russia's Rosneft inks oil production & supply deal with China

Rosgeo aims to start exploring two blocks off the country's south coast. The agreement covers a huge amount of geological exploration work, including drilling exploratory wells.

The company is expected to undertake 1,500 square miles of 3D seismic operations and over 8,000 miles of gravity-magnetic exploration activities.

The Russian company will get a 70 percent stake in the project with the remaining 30 percent going to PetroSA, according to Rosgeo’s CEO Roman Panov.

He stressed the project is aimed at oil and gas extraction and will be financed in partnership with Russian and South African banks.

The contract is seen as lucrative for the Russian company as it allows to employ its capacities, including drilling equipment and staff all year round.

Estimated reserves in the two blocks reportedly total 50 million tons of crude and 1.2 trillion cubic meters of natural gas.

Under the terms of the agreement, the daily volume of extracted gas is set to reach four million cubic meters. The gas will then be delivered to a gas-to-liquid refinery at Mossel Bay.


Poster Comment:

BRICS promote trade and development while Trump talks of disbanding international trading partnerships.

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#1. To: Tatarewicz (#0)

Trump is more of isolationist. He wants to get the U.S. out of NAFTA and bring back jobs to America.

First we need to find a way to keep the jobs we now have that are fleeing to other states and areas where cheaper wages are paid. We lost 300 jobs here in this small town I live in, and a grocery store is closing in 5 days. Lots of job loss there too. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2017-09-05   6:19:52 ET  Reply   Trace   Private Reply  


#2. To: BTP Holdings (#1)

Forget about working in America where automation and mechanization are taking over. Banks are eliminating tellers in favor of smart phone banking; grocery stores going self checkout. Infrastructure refurbishment non-starter because of preoccupation with Israel's security.

For a job have to go to less developed countries: Russia, Iran, South America, Africa (before Chinese completely takeover).

Tatarewicz  posted on  2017-09-06   0:42:10 ET  Reply   Trace   Private Reply  


#3. To: Tatarewicz (#2)

Infrastructure refurbishment non-starter

When I would run big truck to Florida every week, there was ALWAYS construction going on around Tampa area. It is likely there still is. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2017-09-06   6:29:19 ET  Reply   Trace   Private Reply  


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