Government must not let Luiperd well be a wasted opportunity
The national government needs to create the business-friendly, regulatory certainty needed for international oil and gas firms in the Western Cape, and SA generally
Total’s announcement of a significant gas condensate discovery at the Luiperd well, just 175km off the coast of Mossel Bay, may be a wasted opportunity if national government does not create the business-friendly, regulatory certainty needed for international oil and gas companies to invest in the Western Cape, and SA generally.
Until recently drilling has been too challenging and costly for companies to explore the SA coast. The gas discovery of mid-2019 at the Brulpadda site is estimated to hold one-billion barrels of oil equivalent gas condensate, and if developed could see huge investment into our province and an estimated R1-trillion overall return for the economy over the next 20 years...
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