Sasol has signed an agreement with Talisman Energy to acquire a 50% stake in its Farrell Creek shale gas assets in the Montney basin, British Columbia, Canada.
Under the $1bn agreement, Talisman Energy will retain the remaining 50% interest and continue as operator of the Farrell Creek assets, including associated gas gathering systems and processing facilities.
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Assets included in the transaction cover over 206 million square meters of land and represent an estimated contingent resource of 9.6 trillion cubic feet.
The firms have agreed to conduct a feasibility study on the economic viability of a facility in western Canada to convert natural gas to liquid fuels using Sasol’s gas to liquids technology.
The firms have also agreed to collaborate on other western Canadian natural gas opportunities.
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By GlobalData
