Petroleum Africa
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Sunday, September 13, 2015
Sasol and its partners entered into an agreement with Mozambique’s Petromoc to purchase condensate from the CPF in Temane, Inhambane province.Proposals received were evaluated independently in terms of a set of established criteria by the unincorporated JV partners in the Petroleum Production Agreement license ― Sasol, CompanhiaMoçambicana de Hidrocarbonetos, and the IFC.
“Promoting local content is key to ensuring that the oil and gas industry promotes in-county economic development,” said John Sichinga, senior VP, Sasol Exploration and Production International. “We have been focusing on identifying, and sustaining Mozambican suppliers that can support and help develop our activities and participate meaningfully in the value chain of the growing hydrocarbon industry.”
Sichinga added,“We intend to progress developing and growing Mozambican suppliers that can fulfil similar roles in our value chain.”
According to Fernando Uache, CEO of Petromoc, “Sasol is and will continue to be a natural partner for Petromoc. It was with Sasol that we set our first joint venture in the context of activities that constitute our core business. Today, to earn the trust of Sasol in a contract of this dimension, confirms the affinities of both companies and the role of complementarity that Petromoc can play for the upstream activities developed by Sasol in Mozambique.”
Petromoc owns and operates storage facilities and pipelines across Mozambique, including 19 inland and coastal depots which boast a combined storage capacity of around 500,000 cubic meters. The company markets fuels, oils, grease-oils and lubricants for use in the mining, agriculture and maritime sectors. It also provides fuel to a host of neighboring countries such as Zambia, Zimbabwe, Malawi and the Democratic Republic of Congo. Sasol holds a 49% interest in Petromoc e Sasol Sarl (PeSS), a joint venture with Petromoc. PeSS operates eight fuel retailing and convenience stores and has 47 commercial customers with a market share of 8% in the downstream fuel business in Mozambique.
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