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Total makes second gas discovery off SA

The drilling programme is a rare example of exploration in a frontier area.
Image: Waldo Swiegers/Bloomberg

Total SE and its partners made a second gas-condensate find off the southern coast of South Africa, a country that imports most of its oil.

The “significant” discovery of gas condensate — a light liquid hydrocarbon — comes after Total said last year it had opened up a new “world-class” oil and gas province off South Africa. The drilling program is a rare example of exploration in a frontier area, with activity dropping off dramatically elsewhere amid the oil-price collapse.

The Luiperd-1X well on Block 11B/12B was drilled to a total depth of about 3 400 meters and encountered 73 meters of gas condensate, Total said Wednesday in a statement. The French company will now conduct a detailed assessment of the reservoir in conjunction with Qatar Petroleum and its other partners.

“The initial well results are better than anticipated, and they offer a great opportunity to pursue further exploration and appraisal activities in this area,” Saad Al-Kaabi, Qatar’s minister of energy and chief executive officer of Qatar Petroleum, said in a separate statement.

Oil exploration has dropped amid lower prices and waning demand. This year, as the coronavirus slowed economic activity, the number of rigs offshore Africa plummeted to single digits, according to data from Baker Hughes.

In February 2019, Total and its partners made an estimated 1 billion-barrel find on Block 11B/12B.

Total operates the block with a 45% working interest. Qatar Petroleum has 25%, CNR International 20% and Main Street — a South African consortium — 10%.

© 2020 Bloomberg

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I’d be interested to see to what extend would South Africa Benefit from this, as well as to which parties involved within our borders.

just find out who is Main Street – there lies your answer. Probably all the usaual suspects. All Politically connected people.

More money to loot by corrupt ANC. Country will see no benefits. This is Africa. See Angola and the Dos Santos daughter who is reputedly a $ billionaire from looting Angolan oil when her father was in power. She denies any wrongdoing while living in the UK. This is Africa.

That 10% free carry in Main Street is quite simply the transfer of 10% of an asset owned by the South African people to the people who are meant to be running the country but who are in fact just professional scroungers and gate-keepers. Such blatant theft should be shameful and create embarrassment for them but no … the next Bentley and pair of R10,000 shoes simply shows that they are actually proud of their kleptomania

End of comments.

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