Sasol Forecasts 10% Output Rise

9 February 2010 (Last Updated February 9th, 2010 18:30)

South African petrochemicals group Sasol said it predicts a 10% increase in this year's upstream oil and gas output. The company said its output will ramp up to 42,000bpd oil equivalent compared with 38,000bpd produced in 2009. Sasol Petroleum International (SPI) Mozambiq

South African petrochemicals group Sasol said it predicts a 10% increase in this year’s upstream oil and gas output.

The company said its output will ramp up to 42,000bpd oil equivalent compared with 38,000bpd produced in 2009.

Sasol Petroleum International (SPI) Mozambique asset manager Spencer Quam told Reuters the company has an equity production of 38,000bpd oil equivalent, which is likely to increase to 42,000bpd this year.

“We are going to grow to 55,000bpd in the coming three years,” Quam said.

SPI is the upstream entity of the Sasol group that specialises in the development and management of its upstream interests in oil and natural gas assets.