Petroleum Africa
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Tuesday, February 21, 2023
The Petroleum Agency of South Africa (PASA) has granted Afro Energy (a subsidiary of Australian gas explorer and developer Kinetiko Energy) renewals on Exploration Rights 270 and 272. The exploration rights have been renewed for two years.
The renewals covering an area of approx. 3,135 sq km represent a substantial portion of the company’s current exploration rights and support the majority of the planned exploration activities of 2023.
Following the Minerals and Petroleum Resources Development Act of 2002 (MPRDA) Section 81:(4), under which Afro Energy is entitled to continue with exploration and appraisal operations, the renewals granted are for the first of potentially three renewal periods of two years. The company intends to apply for production rights in the near future over these exploration rights which would be valid for an initial period of 30 years.
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