Petroleum Agency SA
The Petroleum Agency promotes exploration for oil and gas resources and their optimal development on behalf of the South African government. The Agency regulates and monitors exploration and production activities. It also collects and collates all data relevant to oil and gas exploration and maintains it as a national resource.
There is significant potential for oil finds in South Africa, with foreign and local companies showing interest in exploring the country’s coastline. In the past few years, more than $1 billion has been spent on oil and gas exploration in South Africa and more than 10 companies have been granted exploration licences.
The Petroleum Agency SA strives to improve understanding of the commercial potential of South Africa's natural oil and gas resources in order to attract investment. It plays a visible role in creating opportunities for training and development of South Africans in this industry. The UTT, as part of the Petroleum Agency SA, was formed with this objective in mind.