A recent report in Ventures Africa (http://dtg.fm/J57d)
indicated that Mozambique will start commercial oil production from an inland
eastern coast oil field at Inhassoro in 2014, according to Sasol Petroleum
(www.SASOL.com). Well testing has already been conducted, and over 236,000 test
barrels of light oil have been produced.
According to Ebbie Haan, MD of Sasol, “If we were to develop
the field with one or two wells in the first phase, we would be talking about
1,100 bpd”. He added that that Sasol plans to invest around $2.4 billion in
Mozambique for a number of oil and gas projects until 2018. Reuters reports
that billions of investment dollars have been triggered by recent gas and coal
discoveries in the country.
It’s all good news for Raptor Resources Holdings, whose
subsidiary Mabwe Minerals has just begun scaling up production of barite at its
Dodge Mine in Zimbabwe, Mozambique’s next door neighbor to the west. Barite is
critical to the oil and gas industry as a weighting agent, where it helps to prevent
blowouts during drilling. The Dodge Mine, only a few hundred miles from the
Inhassoro oil field site, represents a huge barite strike, and they already
have a master supplier contract with oil industry supplier Baker Hughes for up
to 3 million tons of barite to be produced over the next 13 years, though not
directly related to the recent Inhassoro announcement. New demands in nearby
Mozambique now represent new market potential for the barite.
Over the past several months, the company has been bringing
together the necessary partners and plans, and initial production and grading
is now underway. The project is being managed by WGB Kinsey & Company, a
4th generation mining and construction company in Zimbabwe since 1955.
Distribution and shipping of the barite are being handled by Steinbock Minerals
and Yasheya Ltd. respectively.
For more information, visit www.raptorresourceholdings.com
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
No comments:
Post a Comment