Shell South Africa to spend USD 200mn on Karoo gas exploration.

By bne IntelliNews March 4, 2011
Shell South Africa will spend USD 200mn on gas exploration projects in the Karoo, the Business Day newspaper reported quoting the company's chairman Bonang Mohale. The company normally spends about USD 15mn per well, and will do the same in the 90,000 sq km area in the Karoo, where the company is planning on up to 24 wells, the executive noted. Shell will spend USD 200mn just in the initial phase before it finds anything that is commercially viable, Mohale was cited as saying.

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