First Big Oil and Gas Discovery Made Offshore of South Africa
- Oil major Total discovers gas-condensate field in deep waters
- Nation imports most of its crude, is increasingly short of gas
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South Africa’s first deep-water discovery, reported Thursday by French oil major Total SA, may prompt a rush of activity offshore by competitors as the country works to cut its reliance on imported fuels.
The Brulpadda find, estimated at about 1 billion barrels by Total Chief Executive Officer Patrick Pouyanne, could be enough to supply South Africa’s refineries for almost four years. That’s a boon for a country that has always been short of oil and is running out of its scant domestic supply of gas.