–News Direct–
Kinetiko Energy Ltd (ASX:KKO, OTC:KKOEF) CEO Nick de Blocq joined Proactive's Stephen Gunnion after the company became the first to produce power from onshore domestic gas in South Africa.
Kinetiko successfully demonstrated power production from a gas well at Amersfoort in cooperation with FFS Refiners by constructing a fully compliant gas train on-site to feed a 1.2MW gas generator.
De Blockq said the milestone is significant for alleviating the country's energy crisis. The process involved significant compliance efforts, including studies, professional engineering approvals, and equipment importation.
Kinetiko Energy's current focus is not on commercial power production but on using its gas to support field operations. The company's pilot project involves a five-well cluster, with plans to expand to a 30-well LNG cluster in partnership with the Industrial Development Corporation (IDC). The pilot aims to produce 5,000 tonnes of LNG per annum from each ten-well grouping, with a long-term goal of 60,000 tonnes per annum from around 100 wells.
Kinetiko recently announced a A$5 million fundraising effort to support gas exploration across three South African provinces. The raised funds will help the company meet its exploration obligations and drill five appraisal wells by Q3 2024.
De Blocq highlighted the environmental benefits of their clean gas, which contains 99% methane and no harmful impurities. He emphasized the potential of Kinetiko's world-class gas resource to significantly impact South Africa's energy landscape.
Contact Details
Proactive Australia Pty Ltd
Proactive Australia Pty Ltd
+61 431 597 771
writers.australia@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/kinetiko-energy-achieves-milestone-in-south-african-onshore-gas-power-generation-434336352
KINETIKO ENERGY LTD
COMTEX_452617200/2655/2024-05-19T19:03:53
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