Bastion Oil and Gas South Africa (Pty) Ltd (“Bastion”) is a South African empowered company committed to finding solutions for South Africa’s energy deficit by exploring for and producing indigenous onshore gas.
Bastion is delighted to announce that on the 24th June 2022 it lodged applications for exploration rights over technical co-operation permit areas designated TCP 12/2/191, TCP 12/2/192 and TCP12/2/193 with the Petroleum Agency SA of the Republic of South Africa.
These exploration right applications represent the next step in Bastion’s growth and desire to find alternative affordable energy solutions. We believe that gas has a significant role to play in South Africa’s just energy transition to lower pollution emitting energy sources. It is our belief that investment in indigenous onshore gas exploration cannot be ignored for the following reasons:
- South Africa has an abundance of onshore gas potential as demonstrated by Kinetiko Energy Limited, Bastion’s neighbour, who recently announced their gas flow rates,
- Onshore gas exploration and development is significantly cheaper than offshore,
- The potential gas bearing structures are near local infrastructure and markets,
- Domestic gas sales is less susceptible to international oil and gas pricing escalations,
- Domestic gas mitigates exposure to currency risks as opposed to imported gas priced in dollars,
- Gas when produced and sold domestically has the potential to be priced in South African rands, and
- Domestic gas when used together with renewables in the power generation represents South Africa’s best option for a just energy transition, can maintain the integrity of the South African electricity grid infrastructure and can be transported to local municipalities and high energy consumers ensuring their power generation security.
As Bastion continues to de-risk these onshore gas opportunities through intelligent exploration, we look forward to partnering with like-minded companies, development finance institutions and industry as joint venture partners, financiers, contractors and gas off-takers who like us consider this a worthwhile endeavour.
For more information please contact the undersigned at barrisford@bastionoil.com or info@bulwarkoil.co.za
Barrisford Petersen
Founder and Managing Director
Bastion Oil and Gas South Africa (Pty) Ltd
Bulwark Oil And Gas Sa (Pty) Ltd
Rockit Energy (Pty) Ltd
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