Total’s gas find gives PetroSA a ‘new lease on life’
Using PetroSA’s Mossgas gas-to-liquids refinery could help Total ‘radically reduce its capital expenditure requirement’
Total’s significant gas find in the Outeniqua basin off SA’s south coast could be a lifeline for PetroSA, which is running out of reserves and faces an uncertain future. The discovery of about a vertical distance of 57m of gas condensate could ensure the national oil company’s commercial sustainability for the next 50 years, according to Bongani Sayidini, PetroSA acting CEO. “This has given us a new lease on life. It’s been discovered on our doorstep with all the existing infrastructure belonging to us.” The state-owned enterprise (SOEs) has been plagued by maladministration and corruption and just this week, the auditor-general told parliament its ability to continue operating in future is in question. But the find by the French multinational at its Brulpadda prospect, announced last week, could also benefit PetroSA, which has a gas-producing block nearby. “If Total wanted to monetise or beneficiate that find locally, we have existing infrastructure not far from Brulpadda, which is...
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