Petroleum Agency SAABC OF BEE
About Petroleum Agency SA
Petroleum Agency SA, a South African state-owned company established through a Ministerial Directive issued in 1999, is mandated with providing effective and efficient regulation, encouraging investment, fostering diversity, protecting public interest and ensuring a level playing field within the upstream oil and gas industry. Since its inception, the Agency has emerged as the only regulatory body of the upstream oil and gas industry, keeping watch over this strategic and critical industry in South Africa.
Sustainable Exploration and Development of Oil & Gas
Petroleum Agency SA aims to promote and regulate oil and gas exploration and production in South Africa.
We encourage investment in the oil and gas sector by assessing South Africa’s oil and gas resources. Our team of geoscientists study existing data to identify prospective resources which are presented to investors at local and international conferences and exhibitions. Our role is to ensure understanding of regulatory regimes of our country and to advise government in the formulation of regulations that are in line with international norms.
Protecting our environment is very important to us, therefore, compliance with all applicable legislation needs to be in place. Rights cannot be granted unless we are satisfied with the environmental management plan. The Environmental Management Programme process requires public consultation and a clear demonstration that valid concerns will be addressed, and must satisfy both provincial and national authorities.
Corporate Social Responsibility
Corporate Social Responsibility at Petroleum Agency SA is the demonstration of the values of our organisation. The initiative of Petroleum Agency SA’s corporate social responsibility is to improve the quality of life of historically disadvantaged South Africans through skills development and educational programmes with an emphasis on youth.