23 October 2012

South Africa: PetroSA, Cohydro Sarl Sign Agreement

Photo: SA Govt
President Jacob Zuma, right, hosts President Joseph Kabila Kabange of the DR Congo.

Pretoria — PetroSA and Cohydro Sarl of the Democratic Republic of Congo (DRC) have signed an agreement that will ensure cooperation in the pursuit of oil and gas opportunities in the DRC, said PetroSA.

"The agreement ensures that the two national oil companies will develop a framework for cooperation and jointly pursue oil and gas opportunities in the DRC. A co-operation committee consisting of members from PetroSA and Cohydro Sarl has been established to facilitate the implementation," said PetroSA of the agreement signed on Tuesday.

The agreement, said group chief executive officer Nosizwe Nokwe-Macamo, represented a significant milestone.

"We are pursuing several growth initiatives. At the core of this is the establishment of strategic partnerships with several national oil companies located on the continent and internationally.

"PetroSA is poised to grow into a leading integrated African energy company. This requires a nurturing of strategic partnerships that can assist PetroSA to achieve its objectives across the value chain," said Nokwe-Macamo.

The South African national oil company in recent months has established relationships with Mozambique's Petro Moc and the People's Republic of China's Sinopec, among others.

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