Total made a discovery of natural gas deposits after drilling its Brulpadda prospects and encountered 57 meters of net gas pay in Lower Cretaceous reservoirs located on Block 11B/12B.
The discovery was a key feature in President Cyril Ramaphosa’s state of the nation address and signaled a potential boos to the economy.
The natural gas condensate could fetch a premium of $5 to $10 to the price of oil, this could effectively mean over %73 billion for the South African economy over 20 years and could well be a catalyst for gas exploration in South Africa.
“With this discovery, Total has opened a new world-class gas and oil and its well positioned to test several follow-on prospects on the same block,” said Total’s senior vice president for exploration Kevin McLachlan.
Professor Bonke Dumisa of the University of Kwa-Zulu Natal said while the find has a great potentially of stimulating the South African economy and alleviating a number of social ill, the discovery and its residue should e share with the rest of the region.
“This could spell a better life for all,” he said, “provided we don’t allow corruption to creep in. Look what happened in Nigeria, the people haven’t benefitted from their oil reserves.”
News from AFRIC Editorial.
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