PetroSA acquires stake in Ghana’s Jubilee oil field

Engineering News 21 September 2012.

South Africa’s national oil company PetroSA has purchased Sabre Oil and Gas Holdings for an undisclosed amount, giving the company a stake in Ghana’s offshore Jubilee field, which was discovered in 2007 and began producing in 2010.

PetroSA also bought out Sabre’s interest in the Deepwater Tano and West Cape Three Points blocks, in Ghana.

The Jubilee oil field, located 60 km offshore is the largest field in Ghana, with total proven reserves of around 600-million barrels. Both the Deepwater Tano and the West Cape Three Points  have existing oil and gas discoveries for which developments plans are in progress, PetroSA said in a statement…

(Editor’s note: Rather this than fracking?)