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Sasol will not participate in Angolan oil
Sasol said on 5 Dec 01 that it will not participate in the Angolan oil rush "just yet". Instead, the group is focusing on exploration in Gabon, Equatorial New Guinea, Mozambique and South Africa. Sasol's move is in spite of a $3bn investment in Angola by ChevronTexaco, one of the major oil companies traditionally associated with Sasol in Africa. ChevronTexaco is to invest in a liquid natural gas plant that taps around 600 000 barrels of Angola's 750 000 barrels a day total gas production for export. The foreign group is expected to announce partners for the project in Jan 2002, with Sasol denying any involvement.
Sasol is a partner of ChevronTexaco elsewhere in Africa with another gas to liquids plant planned in Quatar, Nigeria. Patrick Davies of Sasol said that Sasol would produce environmentally friendly diesel for export to markets in western Europe and the US. "Together with ChevronTexaco, we are looking at several other areas in the world where we can apply our unique, commercial proved gas to liquids technology". Natural gas has also been identified as the resource that will deliver the group to the next era of technological growth.
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