Industry News - Need For Small Independents Driving Regulatory Reform - SEPT 2014 Middle East & Africa July 2014 / South Africa / Industry
http://www.oilandgasinsight.com/industry-news-need-small-independents-driving-regulatory-reform-sept-2014
Industry News - Need For Small Independents Driving Regulatory Reform - SEPT 2014 Middle East & Africa July 2014 / South Africa / Industry
BMI View :As South Africa moves towards shale gas exploration, the need to draw involvement from diverse small independents will help support efforts to revise the controversial amended petroleum bill.
Falcon Oil & Gas has announced that it expects to be awarded a shale exploration permit in the second half of 2014. Several companies, including the Anglo-Dutch major Shell, have applied for exploration rights in the country's Karoo Basin. However, permitting has been suspended since 2010, pending impact assessments and the passage of technical regulations. Draft regulations have now been published and should be finalised by the end of the year. They include requirements to comply with American Petroleum Institute procedural standards and the mandatory disclosure of chemicals used in the hydraulic fracturing (fracking) process.
Unsettled Regulatory Environment Slowing Exploration
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