SacOil looks at Mozambique, Egypt

SacOil Holding wants to diversify its assets by building a natural-gas pipeline in Mozambique and developing Egyptian oil wells, according to chief executive Thabo Kgogo.

“We are in discussions with a couple of international engineering companies that would like to participate” in a project to build a gas processing plant in Mozambique and a line that would bring the fuel 600 kilometres (373 miles) to South Africa, Kgogo, head of the Johannesburg-based oil and gas company, said in a telephone interview yesterday.

SacOil hopes to start feasibility studies in the first quarter of next year.

The Johannesburg-based company this year started a program to broaden assets outside of exploration blocks it holds in Malawi, Botswana and Democratic Republic of Congo.

SacOil acquired the Lagia oil field on Egypt’s Sinai peninsula.