OIL AND GAS RESERVES
HCI board blasts criticism of seismic surveys as ‘poppycock’
Investment holding company claims critics of seismic blasting are part of an international campaign to block oil and gas exploration
Hosken Consolidated Investments (HCI), the BEE investor led by former trade unionist Johnny Copelyn, has dismissed criticism of seismic surveys of SA’s coastline, a project in which it holds a significant financial interest, as unfounded hype.
Opposition to the project is part of an international campaign to block oil and gas exploration in SA, the company said in a lengthy open letter on Monday, in comments that are not dissimilar to those of mineral resources & energy minister Gwede Mantashe. The minister previously painted critics of Shell’s blasting along the Wild Coast as aligned to forces opposed to SA’s development...
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