Enviromentalists up in arms
Environmental activists showed their teeth yesterday as the Petroleum Oil and Gas Corporation of South Africa (PetroSA) bought a 10 percent participation interest in exploration off the coast of Namibia.
PetroSA has partnered with BHP Billiton, which will hold 75 percent of the operation, and Japanese energy company Mitsui Energy, holding 15 percent of the operation, on the project.
"This is consistent with our philosophy of expanding our gas and petroleum interests," said PetroSA chief executive Sipho Mkhize.
Despite the optimism from the consortium, various organisations have raised concerns about the welfare of the region's ocean life.
The area has been described by the Scientific Research Society as one of the world's oxygen minimum zones.