South Africa Targets Shale Gas to Reduce Oil Imports
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South Africa’s petroleum regulator said Falcon Oil & Gas Ltd. and Bundu Gas and Oil Exploration Ltd. have applied for shale gas exploration permits as the nation looks to reduce its dependence on petroleum imports.
“We’re certainly going to have significant exploration in the next three years or so,” said Mthozami Xiphu, chief executive officer of Petroleum Agency SA, by phone from Cape Town yesterday. “In the next five, six years, we do expect the beginnings of significant production.”