AfrOil: Eni confirms withdrawal from South Africa

Italy’s Eni has effectively confirmed its withdrawal from South Africa, where it had been preparing to look for oil and gas off the coast of KwaZulu-Natal.

The company has been working with Sasol, a South African company, to explore an offshore block known as Exploration Right 236 (ER 236) since 2014. However, Upstream Online said on May 31 that the Italian major had withdrawn from the project. The latest information available from the Petroleum Agency of South Africa (PASA), the country’s upstream hydrocarbon regulator, indicates that Sasol is the only remaining investor in the project, it explained.

As of press time, Eni had not commented publicly on the matter. However, its website effectively confirmed Upstream’s report, as it stated that the exit had already occurred.

“In February 2022, Eni has completed the transfer of its entire participating interest in the Exploration Right permit 236 (ER236) to its partner Sasol Ltd and is exiting the upstream business in South Africa,” the website said.