Sasol strikes oil in Gabon - Houston-based VAALCO Energy

[dArKeR]

Sasol has discovered a promising new oil field in relatively shallow water at Ebouri, off southern Gabon, the company announced on Wednesday.

The oil giant already has a 27,75% share in the 15 000 barrel-a-day Etame oil field, in the same region, which started operating in 2002.

"The discovery of oil in the first well drilled this year is encouraging and indicates that offshore southern Gabon has the potential to become a significant future cash generator for Sasol," said chief executive Pieter Cox.

He said engineering studies to appraise and develop the discovery would now be undertaken by the operator of the block, Houston-based VAALCO Energy.

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