Hon Deputy Speaker, the Petroleum Oil and Gas Corporation of SA Ltd, PetroSA, made a brilliant and admirable move, once again, when it signed a joint exploration co-operation agreement with Cohydro Sarl from the DRC on Tuesday, 23 October 2012. This happened in the presence of President Jacob Zuma of the Republic of South Africa, President Joseph Kabila of the DRC, and 20 Ministers from both countries.
The agreement includes activities such as pre-exploration, exploration, and the development and production of hydrocarbons. Notwithstanding the fact that the benefits of this venture will be realised in the medium to long term, we are pleased by this, because of the critical demand for liquid fuels in our country.
The ANC applauds PetroSA on its historic path to become a global player, on the one hand, and its endeavours to ensure a sustainable supply of energy for the country's social and economic needs, on the other. We hope that this House is reading from the same page as we are. Thank you.