Exploration Right 12/3/252, Algoa -Transkei, is located offshore eastern South Africa and covers approximately 45,838km2 in water depths up to 3,000 metres.
The Licence was initially awarded to Impact as a Technical Cooperation Permit in 2012, following an application for an Exploration Right, which was granted in 2014.
Under the terms of the farm-out agreement between ExxonMobil Exploration and Production South Africa Limited (ExxonMobil) and Impact in 2012, ExxonMobil subsequently applied for a 75% working interest and operatorship of the licence and have collectively gathered extensive new data, significantly progressing the technical understanding of the exploration potential of the ER.
Statoil completed a transaction with ExxonMobil in 2017, taking a 35% interest in the ER. ExxonMobil retains operatorship and currently holds 40% interest in the licence, while Impact holds 25%.
ExxonMobil E&P SA (Operator) 40%
Impact Oil and Gas Ltd 25%