PetroSA records first oil flows in Ghana Jubilee project

PetroSA, a leading oil and gas company in South Africa, has recently reported a significant milestone in its operations in the Jubilee South-East project in Ghana. Sandisiwe Ncemane, Group Chief Executive Officer of PetroSA, spoke exclusively to CNBC Africa's Fifi Peters at the 2023 Africa Oil Week in Cape Town, South Africa, about the project's success and the company's commitment to addressing energy poverty on the continent. Ncemane highlighted the ongoing efforts to unlock additional components of the project after achieving a daily oil production rate of about 72,000 barrels. This achievement not only showcases PetroSA's dedication to advancing the potential of the Jubilee field but also underscores its commitment to the continental agenda. The success of this collaboration with key partners such as TALO, GNPC, and COSMOS has paved the way for PetroSA to explore similar opportunities across the region. The company recently launched an international business hub to identify and capitalize on various prospects in countries like Namibia, Botswana, Mozambique, and Swaziland. By leveraging partnerships and strategic investments, PetroSA is poised to contribute to sustainable economic development and energy security in the region. Ncemane also emphasized the importance of infrastructure development to support the trading and transmission of energy sources in the region. With a focus on optimizing production and distribution, PetroSA is actively working towards enhancing the capacity and efficiency of importation and distribution networks to meet the growing energy demands of the market. While the long-term goal includes reinstating refining capabilities in the region, the company is currently focused on enhancing importation processes and leveraging existing infrastructure to facilitate efficient trading. The successful production rates and ongoing efforts to unlock additional project components demonstrate PetroSA's commitment to maximizing the project's potential and delivering value to its partners and stakeholders. As discussions continue among partners and industry players, PetroSA remains dedicated to driving sustainable growth and energy security in Africa through strategic collaborations and investments.