PetroSA, has announced that it is considering selling up to 49 % equity stakes in 10 offshore blocks.

The stakes on offer includes 10 to 20 % of the company’s current equity holding of 40 % in Block 1 on the West Coast in which Cairn India holds the remaining 60 % interest.

PetroSA was also looking to farm out stakes in its Block 9 North, which was close to its gas-to-liquid refinery at Mossel Bay.

"PetroSA intends to farm out its equity interests in various blocks in South Africa to a technically and financially robust partner(s)," the company told Reuters.

An exploration well is scheduled for 2017 to test oil prospectivity in Block 1, located in an area where Shell and Anardarko were also carrying out assessments.

"1.2 trillion cubic feet (TCF) of gas and 120 million barrels of oil/condensate has been recovered and the estimated remaining potential is more than 3 TCF of gas," PetroSA said.