South Africa oil discovery could be a game-changer

South Africa’s offshore has simply yielded a huge pure fuel and condensate discover that could open a new exploration province for oil majors and alter the power fortunes of the nation.

France’s main Total said that it had made a vital discovery on the Brulpadda prospects off the southern coast of South Africa.

“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,” mentioned Kevin McLachlan, Senior Vice President Exploration at Total.

According to Total’s chief govt Patrick Pouyanne, the discovery could hold 1 billion barrels of oil equal of fuel and condensate sources.

The operator of the license, Total, and its companions Qatar Petroleum, CNR International, and South African consortium Main Street, now plan to amass 3D seismic knowledge this yr, adopted by as much as 4 exploration wells on the license.

“It is exciting for our country that this discovery has been made. It is potentially a major boost for the economy, and we welcome it as we continue to seek investment to grow our economy,” South Africa’s Mineral Resources Minister Gwede Mantashe said, commenting on the foremost fuel discovery.

The African Energy Chamber (AEC) additionally hailed the primary main deepwater discovery off South Africa, saying“This is a great first step for the country which still relies on imports of oil and gas despite the great reserves believed to be in its soil and waters.”

According to AEC, the discovery could change the course of South Africa’s economic system and assist to cut back the nation’s dependence on oil and pure fuel imports.

Read More Here