Oil major Total makes significant discovery offshore South Africa

Canadian Natural Resources

Editor's note: Update: Watch President Cyril Ramaphosa's State of the Nation Address here.

Total has a 45% working interest and is the operator of the Block 11B/12B that covers an area of 19,000km.

The field of primarily gas-condensate - a light liquid hydrocarbon - was discovered about 175 kilometres off the country's southern coast in the Outeniqua Basin.

"This could well be a game-changer for our country and will have significant consequences for our country's energy security and the development of this industry".

"We are extremely encouraged", he said, noting that some analysts are describing the discovery as a "catalytic find". Following the success of the main objective, the well was deepened to a final depth of 3 633 m and has also been successful in the Brulpadda-deep prospect.

Canadian Natural Resources Ltd. says its partner in an deep water offshore drilling project in South Africa is reporting a "significant gas condensate" discovery. "Having said that, the region is quite hard to operate: huge waves, the weather isn't very easy".

Total drilled this exploration well with the latest generation drilling ship and was able to leverage its experience in similar environments, such as the West of Shetland, UK.

Environmental rights' group Greenpeace said on Friday that the discovery of more fossil fuels off the coast of South Africa was not a cause for celebration.

He stated that the discovery confirmed his decision to separate legislation for oil and gas from "traditional minerals", as it would enable policies that fully support the oil and gas sector's potential. As you know the fuel price has been a real thorn in the flesh of many South Africans.

South Africa's economy has lurched into recession several times in recent years, and even this year GDP growth is expected to be less than 2 per cent, below the rate of population growth. "We welcome it as we continue to seek investment".

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