Sasol Petroleum International reports that operating profit declined by 50%, to R300-million for the year, primarily owing to a significant increase in exploration costs offset by higher selling prices, a weaker rand:US dollar exchange, and increased sales volumes.

The company coordinates the group's upstream oil and gas exploration and production interests. These interests are concentrated in high-potential and onshore and offshore areas in West Africa, and Southern Africa. It is active in the Congo, Gabon, Equatorial Guinea, Mozambique, and South Africa. Sasol Petroleum International invests in partnerships with experienced international petroleum companies to ensure maximum benefits flow to all stakeholders.

The company has three primary areas of focus, namely gas reserves that are synergistic with Sasol's other South African operations, resources that can be monetised elsewhere through the group's unique Fischer-Tropsch gas conversion technology, and other attractive oil and gas provinces where it can create competitive advantage.

Sasol Synfuels International develops and implements international ventures based on Sasol's Fischer-Tropsch synthesis technology, most notably the Slurry Phase Distillate gas-to-liquids (GTL) process. The operation brought its first international GTL plant production into Qatar Petroleum in January, 2007. It also pursues opportunities based on other hydrocarbons that could be beneficiated through its technology, most notably coal-to-liquids (CTL) technology.

The Sasol Chevron joint venture is responsible for the development, implementation, and management of GTL ventures based on the Sasol Slurry Phase Distillate process, and the marketing of its products such as environment-friendly sulphur-free fuels.

Sasol reports that its primary expansion drive is being led by its investments in GTL plants, and polymer plants in Asia and the Middle East. The company is also advancing plans to increase production of natural gas in Mozambique, and is involved in prefeasibility and feasibility studies for commercialising its CTL and GTL technologies in coal- and gas-rich countries.

The company has operations in more than 30 countries, and sells products to customers in more than 120 countries.