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Total opens new petroleum province off SA

Total made the significant gas condensate discovery just off the coast of South Africa.
Total's discovery of the oil and gas province could prompt a rush of activity offshore by other companies. Picture: Shutterstock

Total SA said it has opened up a new “world-class” oil and gas province off the coast of South Africa after making a significant gas condensate discovery there.

Success in the nation’s first deep-water well is a potential boon for a country that imports most of its oil, processing the remainder of its fuels from coal and natural gas.

“We are very pleased to announce the Brulpadda discovery, which was drilled in a challenging deep-water environment,” Kevin McLachlan, senior vice president of exploration at Total, said in a statement on Thursday. “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.”

The potential new play, with estimated volumes of around 1 billion barrels according to consultant Wood Mackenzie Ltd., has also drawn interest from explorers including Exxon Mobil Corp. and Eni SpA, which hold stakes there.

Total was drilling about 175 kilometers (109 miles) offshore in the Outeniqua Basin. The discovery could prompt a rush of activity offshore by other companies, especially since South Africa is due to introduce new oil and gas legislation later this year aimed at spurring exploration.

© 2019 Bloomberg L.P 

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Good news.

I wonder if this will ever be developed if it is only gas. Deep water and technically challenging. Plenty of gas in N Mozambique – approximately 100tn cubic feet (and getting bigger) with resource life > 100 years.

They need to find oil rather than gas.

The version on the strory (largely the same) includes the following-“The discovery, which also includes some light oil”. Here’s to hoping.

How does cubic feet metric (you used for Mozambique) relate to the measurement by barrels mentioned in this story?

1,000,000 Cubic Feet Of Natural Gas to Barrels Of Oil Equivalent = 172.3947

1b Barrels = 5.8tn cubic feet

All I read is: BEE, BBBEE, Tenderpreneurs, insane corruption. SA won’t benefit one iota from this discovery. A few guys in the ANC and EFF are gonna get VERY rich soon!

If this is a huge find, then anticipate real estate prices in Mossel Bay and nearest regions to escalate. Time to speculate is NOW….

End of comments.

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