Petroleum Agency SA is based in Bellville, Cape Town and is responsible for the promotion and regulation of exploration and exploitation of oil and gas (petroleum) resources within the Republic (onshore and offshore). This is done on behalf of government in terms of the Mineral and Petroleum Resources Development Act.
Petroleum Agency SA encourages investment in the oil and gas sector by assessing South Africa’s oil and gas resources, and presenting these opportunities for exploration to oil and gas exploration and production companies. Compliance with all applicable legislation in place to protect the environment is very important, and rights cannot be granted without an approved Environmental Management Plan.
One of the Agency’s roles is to counsel government on issues related to oil and gas. The Agency has recently played a leadership role in the Task Team process investigating shale gas exploration and the controversial technique of hydraulic fracturing. South Africa is on the brink of major developments in the upstream industry and the next few years will be key in determining the country’s future energy profile. There is currently unprecedented interest and a record level of activity in petroleum exploration.
Explorers must prove financial and technical ability to meet their commitments in safe-guarding and rehabilitation of the environment. Preparation of Environmental Management Plans requires public consultation and a clear demonstration that valid concerns will be addressed.
COMPANY STATISTICS / DEMOGRAPHICS / HISTORY
Year founded: 1992
Founding members: State-owned entity
Branches: Only a Head Office in Cape Town
Current customer base: Oil and Gas Industry
BUSINESS & FINANCE
Turnover: 74 420
Operating profit: 1 747
Net profit: 19 653
Financial year-end: March
Holding company: CEF (SOC) Ltd
Key clients: Oil Majors
NATURE OF BUSINESS
Description of activity: Promotion and regulation of oil and gas in South Africa
Products/services offered: Promotion, licensing, monitoring and data management
CONTRACTS & AWARDS
Recent exhibitions / trade shows / conventions: Africa Upstream, Appex, AAPG, WPC
TRAINING & CSI
Training programmes: Educational assistance; internships
Employee incentive schemes: Performance bonus incentive
CSI initiatives: Upstream Training Trust
Black empowerment level – shareholding (%): State-owned entity
Black empowerment level – executive directors (%): Currently no executive directors
Black empowerment level – non-executive directors (%): All non-executive directors are black
Black empowerment level – total staff (%): >50.1% black employees
Level 7 BEE Verification Agency CC
1 | The Agency attracts international investment to South Africa through exploration companies.
2 | We assess oil and gas resources for Government.
3 | We are the state archive for oil and gas data in South Africa.
4 | We train young scientists through our intern programme.
5 | We bring science to the community through the Upstream Training Trust.
Physical address: 7 Mispel Road Bellville 7530
Postal address: PO Box 5111 Tygervalley 7536
Telephone: 021 938 3500
Fax: 021 938 3520