Sasol Obtains Approval for Mozambique Field Development Plan

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Feb 01, 2016, 07:10 ET

JOHANNESBURG, February 1, 2016 /PRNewswire/ --

Sasol has obtained approval from the Mozambique Council of Ministers for its field development plan (FDP) that will see further hydrocarbon resources developed to support Southern Africa growth.

To be developed in phases, the first phase of the Production Sharing Agreement (PSA) licence area development proposes an integrated oil, LPG and gas project adjacent to Sasol's existing Petroleum Production Agreement (PPA) area. The PPA area is where natural gas from the Pande and Temane fields is currently produced and processed in a central processing facility before being transported via an 865-kilometre pipeline to gas markets in Mozambique and South Africa.

"The Mozambican gas industry is playing an increasingly important role in the regional energy landscape, and this project represents a major milestone in further developing natural resources, which will significantly benefit Southern Africa" said David Constable, President and Chief Executive Officer, Sasol Limited.

"The PSA development is aligned with our commitment to both Mozambique and South Africa, and will enable us to drive our broader 2050 strategy, which reaffirms Sasol's longer term role in Southern Africa," concluded Constable.

Forward-looking statements: Sasol may, in this document, make certain statements that are not historical facts and 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 and cost reductions. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "endeavour" 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 under the Securities Exchange Act of 1934 on Form 20-F filed on 09 October 2015 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.

About Sasol:

Sasol is an international integrated chemicals and energy company that leverages the talent and expertise of about 31 000 people working in 37 countries. We develop and commercialise technologies, and build and operate world-scale facilities to produce a range of high-value product streams, including liquid fuels, chemicals and low-carbon electricity.

Issued by:

Alex Anderson, Head of Group Media Relations
Direct telephone: +27(0)11-441-3295; Mobile +27(0)71-600-9605;
[email protected]

Matebello Motloung, Senior Specialist: Media Relations
Direct telephone: +27(0)11-441-3252, Mobile : +27(0)83-773-9457
[email protected]

SOURCE Sasol Limited