Maputo, Mozambique – Following an evaluation of the exploration potential of the blocks and an assessment of the report of the pre-feasibility phase of the Environmental Impact Assessment (EIA), Sasol has decided to relinquish its exploration license in Blocks 16 & 19 offshore Mozambique.
Sasol was awarded Blocks 16 & 19 in June 2005. Since that time, we conducted deep-water exploration activities in the license areas in a safe and environmentally responsible manner.
With the relinquishment of the deep-water part of the license on 1 July 2013, the shallow water area of the license was retained with a view to define a future work programme to assess the remaining hydrocarbon potential.
Understanding and appreciating the environmental sensitivity of the area, Sasol undertook a robust and transparent pre-feasibility assessment through Golder & Associates, an independent, reputable environmental specialist consulting firm, prior to any exploration activity. This process involved consultation with all relevant stakeholders, from government, on all levels, industry, such as tourism and fisheries, to academia.
Sasol acknowledges all the comments received during the pre-feasibility phase of the EIA process and values the input that all stakeholders contributed.
Sasol will relinquish Blocks 16 & 19 in their entirety to the Government of Mozambique. A withdrawal notification has been issued to the relevant Mozambican authorities.
Sustainability is integral to how Sasol conducts business, which is underpinned by our commitment to compliance with all environmental legislation and undertaking any exploration activity in an environmentally responsible manner.
Sasol may, in this document, make certain statements that are not historical facts that relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, developments and business strategies. Examples of such forward-looking statements include, but are not limited to, statements regarding exchange rate fluctuations, volume growth, increases in market share, total shareholder return, executing our growth projects (including LCCP), oil and gas reserves and cost reductions, including in connection with our BPEP, RP and our business performance outlook. Words such as “believe”, “anticipate”, “expect”, “intend", “seek”, “will”, “plan”, “could”, “may”, “endeavour”, “target”, “forecast” and “project” and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors are discussed more fully in our most recent annual report on Form 20-F filed on 28 August 2018 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider both these factors and other uncertainties and events. Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
Please note: One billion is defined as one thousand million. bbl – barrel, bscf – billion standard cubic feet, mmscf – million standard cubic feet, oil references brent crude, mmboe – million barrels oil equivalent. All references to years refer to the financial year 30 June. Any reference to a calendar year is prefaced by the word “calendar”.