A first: Gas : Mossel Bay, South Africa

SA OFFSHORE GAS FIND COULD YIELD 1 BILLION BARRELS, SAYS TOTAL


French energy giant Total announced Thursday it had found “significant” gas off the southern coast of South Africa, a discovery expected to boost the nation’s struggling economy.  “Total has made a significant gas condensate discovery on the Brulpadda prospects,… in the Outeniqua Basin, 175 kilometres off the southern coast of South Africa,” it said in a statement.   
The Brulpadda field is said to hold between 500 million to over 1 billion barrels of oil equivalent.

FILE: Picture: Pixabay.com

 

Total’s CEO Patrick Pouyanne said the potential quantities “could be around one billion barrels of global resources, gas and condensate light oil.   It could be quite big, it’s probably quite big,” he told journalists in Paris.   It is difficult to operate with the huge waves and the weather is not so easy.”

South Africa’s Mineral Resources Minister Gwede Mantashe welcomed the news of the discovery as “potentially a major boost” for the economy which grew less than one percent last year,   “It is exciting for our country. We welcome it as we continue to seek investment to grow our economy,” the minister said.   The news came just hours before President Ramaphosa delivers a state-of-the-nation address, his final one before crucial elections due in May this year.

Mining analyst Makwe Masilela said said the discovery was “positive” for South Africa, which is desperately seeking foreign direct investment and to cut down on gas imports from neighbouring Mozambique.   “Foreign direct investment is something we are seriously looking for as a country,” he told AFP on the sidelines of a mining investment conference.    “With this discovery, 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., ” said Kevin McLachlan, Senior Vice President Exploration at Total.

 

Advertisements

Lewer kommentaar

Verskaf jou besonderhede hieronder of klik op 'n logo om in te teken:

WordPress.com Logo

Jy lewer kommentaar met jou rekening by WordPress.com. Log Out /  Verander )

Google+ photo

Jy lewer kommentaar met jou rekening by Google+. Log Out /  Verander )

Twitter picture

Jy lewer kommentaar met jou rekening by Twitter. Log Out /  Verander )

Facebook photo

Jy lewer kommentaar met jou rekening by Facebook. Log Out /  Verander )

Connecting to %s