Pioneer working to develop oil, gas businesses in South Africa

Pioneer Natural Resources Co., Dallas, will be the first outside company to produce oil off South Africa with the anticipated startup of Sable field expected in the first quarter of 2003. Pioneer also has two natural gas discoveries in the vicinity and foresees South Africa's power generation driving a future gas market.The company expects an initial gross flow rate of up to 40,000 b/d of light, sweet crude from two reservoirs with 25 million bbl of estimated recoverable oil reserves. Pioneer has a 40% working interest in Sable. PetroSA, the government-owned company, has a 60% working interest and is the designated operator of the field."Pioneer's share of Sable field production i...

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