Total offshore find could bring R1-trillion to SA economy
The find is significant because it could represent a sea change in investor sentiment
A significant gas-condensate find off the coast of SA will provide a significant boost for the economy of R1-trillion over the next 20 years. Total, a French multinational oil and gas company, announced on Thursday that it has opened up a new “world-class” oil and gas province off the coast of Mossel Bay at its Brulpadda prospects on Block 11B/12B in the Outeniqua Basin. Success in the nation’s first deep-water well is a potential boon for SA, which imports most of its oil. “We are very pleased to announce the Brulpadda discovery, which was drilled in a challenging deep-water environment,” Kevin McLachlan, senior vice-president of exploration at Total, said in a statement on Thursday. “Total has opened a new world-class gas and oil play and is well-positioned to test several follow-on prospects on the same block.” Total now plans to acquire 3D seismic data before drilling as many as four more exploration wells at the licence. Stephen Larkin, expert in Southern Africa oil and gas exp...
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