Home » News » KINETIKO ENERGY RECEIVES IDC FUNDING TO COMMENCE JV DEVELOPMENT
Industrial Development Corporation of South Africa (IDC) has advanced its first funds towards its JV with Afro Energy to develop gas fields to produce gas for industrial, commercial, transportation or power generation applications.
Proposed gas field comprises approximately 20 wells to produce gas and IDC has the first right to participate in up to 45% of the next 60 wells developed by Afro Energy.
Approvals are in place for the joint venture and field commencement anticipated in late 2023.
Continues company focus on capital efficiency to significantly grow gas resources and reserves.
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