Wednesday 26 June 2024

Kinetiko Energy (ASX:KKO) is developing an energy transition solution for South Africa

Kinetiko Energy (ASX:KKO) is developing an energy transition solution for South Africa focused on commercialising advanced shallow conventional gas projects in the Mpumalanga, Freestate and KwaZulu-Natal Provinces.

  • In a first of its kind in South Africa, Kinetiko has successfully demonstrated power production from a gas well at Amersfoort in cooperation with FFS Refiners
  • A fully compliant gas train was constructed on-site to feed a 1.2MW gas generator
  • Gas was produced from one existing gas well, which forms parts of a 5 well cluster near Amersfoort which is located in ER271
  • The successful demonstration primes the Company’s plans to develop an LNG production cluster of approximately 30 wells at this location as part of its joint venture with the Industrial Development Corporation of South Africa (IDC)
  • This milestone represents a significant step forward, illuminating the potential of the Company’s substantial 6Tcf 2C gas resource to provide desperately needed power to South Africa’s economy

Kinetiko CEO, Nick de Blocq, commented: “We have spent the last few months working hard to demonstrate the Company’s ability to generate power from our natural gas at the Amersfoort project in Mpumalanga. We obtained respected, professional engineering and equipment suppliers to support this project and we are absolutely thrilled to have become the pioneers of onshore Gas To Power (GTP) from a local, conventional source, which represents another significant milestone for the Company, establishing it as a proven solution within the energy mix planned to alleviate South Africa’s energy crisis.”

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