The government of South Africa would be taking a 20% free stake in all new oil and gas ventures. Susan Shabangu of Mineral Resources told reporters the state would be able to increase its holdings to 50% as it would have the option purchase the remaining 30% stake at market-related prices. "The first 20 percent will be the free carried part by the state," she said.

Last year, South Africa notified energy companies that it would be taking a share in all new projects as part of its amendments to the 2002 Mineral and Petroleum Resources Development Act. However, energy giants like Exxon Mobil Corp and Royal Dutch Shell complained that the planned amendments did not specify the size of the stake companies would need to cede to the state. In meetings held last month, the companies said the uncertainty could discourage private investment.

In a statement submitted to lawmakers on September 11 , Shell said, "For a country to attract investment in the exploration of oil and gas, the financial risks need to be balanced with stable and transparent legislation that provides benefits to investors and meets the country's aspirations."