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SacOil didn't sign JV deal for African Renaissance Pipeline

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Staff writer ▼ | April 26, 2016
SacOil announces that a joint venture agreement for the development of the African Renaissance Pipeline Project was signed in Maputo, Mozambique.
Energy transport   $6 billion, 2,600km pipeline
The agreement was signed by Empresa Nacional de Hidrocarbonetos (ENH), Profin Consulting Sociedade Anonima (Profin), China Petroleum Pipeline Bureau (CPP), China Petroleum & Technology Development Corporation (CPTDC) and Progas Investment Group (Pty) Limited.

SacOil as a company elected not to sign the Joint Venture Agreement at this time, while the board evaluates the agreement and the associated opportunity with regards to the company’s participation in the project. SacOil will provide an update in due course.

An agreement for the estimated $6 billion, 2,600km pipeline to transport natural gas from Mozambique's Rovuma Basin to Gauteng in South Africa, has been signed, it was announced in March.