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PetroSA announces plans for new oil refinery and LNG terminal

by Selwyn Bergman
on 25 Oct 2007
Oceanography SA
Oceanography SA

State-owned oil company, PetroSA, has announced plans for a new crude oil refinery and a Liquefied Natural Gas (LNG) receiving terminal to be built at Coega in the Eastern Cape.

Coega was tentatively chosen as a site for the refinery over Saldanha Bay, Richards Bay and Newcastle.

CEO of PetroSA, Sipho Mkhize, told Parliament's minerals and energy committee that the proposed project could be expected to be functional in 2014-15 and will have a capacity to produce 200 000 barrels of refined oil per day. He said that Minerals and Energy Minister Buyelwa Sonjica was awaiting the outcome of the feasibility studies, which are likely to be concluded in 2009, before allowing the project to proceed.

According to Mkhize, the refinery would generate about 1 000 jobs directly, 5 000 jobs indirectly during operations, and 10 000 jobs during construction.

The planned refinery project, dubbed Project Mthombo, would make a noticeable contribution to the security of the energy supply for the country which, according to forecasts, will reach about 280 000 barrels per day by the year 2020.

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