SA's oil and gas industry is waiting with bated breath to hear if TotalEnergies will indeed exit the gas discoveries off the coast of Mossel Bay – a move which would follow hot on the heels of Canadian giant CNR International, which washed its hands of the project a few days ago. As a multinational oil and gas major, TotalEnergies is the operator of block 11B/12B, holding a 45% stake. It is responsible for carrying out all prospective activities. A $400 million investment in exploration has yielded two major discoveries there — a one billion barrels equivalent gas find at the Brulpadda well in 2019, followed by another major discovery at the nearby Luiperd well in 2020.

Source: News 24 July 04, 2024 07:29 UTC