PetroSA to spend $ 67 mm in Equatorial Guinea

South Africa's state-owned oil company PetroSA development budget for Block Q in Equatorial Guinea was $ 67 mm, said the company. The company said $ 50 mm of this would be used to drill an exploration well.
Block Q is a 2,167 sq km exploration concession that the company acquired in November 2004.

PetroSA said that it had opened an office in Equatorial Guinea's capital city, Malabo, which is the company's first African office outside South Africa.