ADVERTORIAL PETROLEUM AGENCY SOUTH AFRICA (PASA)
Petroleum Agency SA strategy to increase exploration activity
Petroleum Agency SA (PASA) exists to promote, facilitate and regulate exploration and sustainable development of oil and gas in South Africa. SA PROFILE spoke with new CEO, Dr Phindile Masangane, about PASA's new five-year strategy, and more.
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hat is PASA's mandate in terms of being a custodian of the country’s oil and gas rights?
PASA’s mandate is threefold – firstly, to attract investment to South Africa’s upstream industry; secondly, to regulate the activities of oil and gas explorers and producers; and thirdly, to act as the national archive and database for all data and information produced in the process of oil and gas exploration and production. The upstream oil and gas exploration industry requires technological capacity and is extremely high risk in terms of capital investment and needs long-term investment of resources before a return is shown. Because of this, many countries choose to share the risk of oil and gas exploration and production with private companies, and South Africa follows this model. Government has designated PASA as the custodian of South Africa’s oil and
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