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Archive for March 2016

Completion Of Phase 2 Development Programme – Lagia Oil Field

SACOIL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1993/000460/06) JSE Share Code: SCL AIM Share Code: SAC ISIN: ZAE000127460 (“SacOil” or “the Company”) Completion Of Phase 2 Development Programme – Lagia Oil Field SacOil Holdings Limited, on behalf of its subsidiary, Mena International Petroleum Company Limited (“Mena”), is pleased to announce…

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Cooperation Agreement concluded with new partners and the China Petroleum Pipeline Bureau for the construction of the African Renaissance Gas Pipeline in Mozambique

COOPERATION AGREEMENT CONCLUDED WITH NEW PARTNERS AND THE CHINA PETROLEUM PIPELINE BUREAU FOR THE CONSTRUCTION OF THE AFRICAN RENAISSANCE GAS PIPELINE IN MOZAMBIQUE

On 8 December 2014, SacOil announced that it had entered into a Joint Development Agreement (“JDA”) with the Public Investment Corporation SOC Limited (“PIC”) and The Instituto de Gestão das Participações do Estado (“IGEPE”). The JDA set out the terms for an evaluation of the technical and commercial feasibility of the construction of a gas pipeline and distribution facility intended to carry natural gas from Mozambique’s Rovuma fields to South Africa, with off-takes to other neighbouring Southern African Development Community (“SADC”) countries (“the Project”).

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Reorganisation of Interests in Block III, Democratic Republic of Congo

SacOil announces proposed reorganisation changes to its indirect participating interest in Block III, Albertine Graben (“Block III”) in the Democratic Republic of Congo (“DRC”), currently held by its indirect subsidiary Semliki Energy SARL (“Semliki”). The reasons for the reorganisation of the ownership structure are to enable SacOil to represent its interest in Block III directly and to have direct line of sight to the activities of Block III. The impact of the reorganisation is that the assets and liabilities related to fellow Semliki shareholder, Divine Inspiration Group Proprietary Limited (“DIG”), will be retained in Semliki.

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