Sasol Commences Drilling of Mozambique PSA Licence

Johannesburg (ots/PRNewswire) -

Today, Sasol's field development plan (FDP) for the Production
Sharing Agreement (PSA) licence in Inhambane province, Mozambique,
reached an important milestone with the commencement of the drilling
of the first well.

Adjacent to its current producing Petroleum Production Agreement
licence, the PSA development is an integrated oil, Liquefied
Petroleum Gas (LPG) and gas project.

The spud marks the beginning of the drilling campaign, which is
part of the first phase of the FDP; the delineation and initial
development of the Temane G8, Temane East, Inhassoro G6 and Inhassoro
G10 reservoirs. Thirteen production wells will be drilled (including
a water disposal well) during this initial phase, while oil and LPG
production facilities will be installed close to the existing Central
Processing Facility (CPF). A 5th gas processing train will be
installed at the CPF to process the additional gas.

"The spud of the first well in the PSA licence area reaffirms
Mozambique as the heartland of Sasol's oil and gas strategy in
sub-Saharan Africa and provides a platform from which to drive
socio-economic growth," said John Sichinga, Senior Vice President,
Sasol Exploration and Production International.

Mozambique's Council of Ministers approved the PSA FDP in January
this year. Shortly thereafter, Sasol commissioned a drilling rig from
French-based drilling contractor Société de Maintenance Pétrolière
which arrived in Maputo port on 19 March.

The phased development plan envisages the development of further
hydrocarbon resources that will help to drive the growth of both
Mozambique and Southern Africa.

This first phase of the PSA Development is anticipated to cost
approximately US$1,4 billion.

Phase 1 development represents the optimal development of four of
the PSA geological layers in a safe and sustainable manner to the
benefit of all stakeholders. The utilisation of existing
infrastructure in the area enables the safe and efficient use of
resources, while the development in tranches of the complex
reservoirs is a prudent approach for timely de-risking of subsurface
resources and maximisation of overall project value.

Forward-looking statements: Sasol may, in this document, make
certain statements that are not historical facts and relate to
analyses and other information which are based on forecasts of future
results and estimates of amounts not yet determinable. These
statements may also relate to our future prospects, developments and
business strategies. Examples of such forward-looking statements
include, but are not limited to, statements regarding exchange rate
fluctuations, volume growth, increases in market share, total
shareholder return and cost reductions. Words such as "believe",
"anticipate", "expect", "intend", "seek", "will", "plan", "could",
"may", "endeavour" and "project" and similar expressions are intended
to identify such forward-looking statements, but are not the
exclusive means of identifying such statements. By their very nature,
forward-looking statements involve inherent risks and uncertainties,
both general and specific, and there are risks that the predictions,
forecasts, projections and other forward-looking statements will not
be achieved. If one or more of these risks materialise, or should
underlying assumptions prove incorrect, our actual results may differ
materially from those anticipated. You should understand that a
number of important factors could cause actual results to differ
materially from the plans, objectives, expectations, estimates and
intentions expressed in such forward-looking statements. These
factors are discussed more fully in our most recent annual report
under the Securities Exchange Act of 1934 on Form 20-F filed on 09
October 2015 and in other filings with the United States Securities
and Exchange Commission. The list of factors discussed therein is not
exhaustive; when relying on forward-looking statements to make
investment decisions, you should carefully consider both these
factors and other uncertainties and events. Forward-looking
statements apply only as of the date on which they are made, and we
do not undertake any obligation to update or revise any of them,
whether as a result of new information, future events or otherwise.

About Sasol:

Sasol is an international integrated chemicals and energy company
that leverages technologies and expertise of our 30 400 people
working in 36 countries. We develop and commercialise technologies,
and build and operate world-scale facilities to produce a range of
high-value product streams, including liquid fuels, chemicals and
low-carbon electricity.

Issued by:

Alex Anderson, Head of Group Media Relations

Direct
telephone: +27(0)11-441-3295; Mobile +27(0)71-600-9605;

alex.anderson@sasol.com

Matebello Motloung, Specialist: Media
Relations

Direct telephone: +27(0)11-441-3252, Mobile:
+27(0)83-773-9457

matebello.motloung@sasol.com

ots Originaltext: Sasol
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