You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

SA says has up to 60 tcf of offshore gas potential

The government is hopeful Total’s find will spur an exploration boon.
Image: Bloomberg

South Africa, where oil major Total recently made a big offshore discovery, said on Friday it had potential gas resources of up to 60 trillion cubic feet in waters off its coast.

Last week Total’s chief executive said its offshore discovery probably contained 1 billion barrels of total resources, after successfully drilling its Brulpadda prospects in the Outeniqua Basin off South Africa’s southern coast.

“South Africa has potential resources of nine billion barrels of oil and 60 trillion cubic feet or 11 billion barrels of oil equivalent of gas offshore,” a cabinet statement said.

The government is hopeful Total’s find will spur an exploration boon, with Sasol, Eni and Exxon Mobil Corp among those with offshore exploration acreage. 

BUSINESS VIDEOS

COMMENTS   2

Sort by:
  • Oldest first
  • Newest first
  • Top voted

You must be signed in and an Insider Gold subscriber to comment.

SUBSCRIBE NOW SIGN IN

Let’s hope there’s nothing – imagine the cadres getting their hands on that!! Can anyone say Eduardo dos Santos?

Maybe they’ll sell to Glencore at 90% discount.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Podcasts

INSIDER SUBSCRIPTION APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING

Follow us:

Search Articles:
Click a Company: