Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News January 27, 2014 at 12:55PM

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VENTURES AFRICA –Africa-focused gas explorer Kinetico Energy has signed an agreement with White Rivers Exploration (WRE), a Black Economic Empowerment group, for gas explorations in Heilbron, Kroonstadt and Ventersburg regions of South Africa.

Information contained in a deal signed by both parties says the pair will explore for Helium gas, Methane and other oil and gas deposits in the South Africa covering about 716km².

Kinetico Energy, which holds a 50 percent stake in the business, would be the main operator, while WRE would retain its exploration rights in the stake, South African media BDLive quoted Kinetico as saying.

“…We will leverage on our advantage in onshore exploration in South Africa, Kinetico’s said through its website.

Often referred to as ‘sweet gas’ because of its lack of hydrogen sulphide, coal bed methane, a form of natural gas extracted from coal beds, is increasingly becoming more important for energy generation across the world; countries like Australia and the United States have continued to utilize the mineral.

 

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