https://www.americanthinker.com/blog/2019/02/massive_oil_and_gas_reserves_found_off_south_african_coast_a_game_changer.html
But will the radical-Left government allow for the full development of the find?
While many of the world’s industrial powers are looking for ways to reduce their consumption of fossil fuels, a fabulous oil discovery off the coast of South Africa promises to alter the energy future of the continent.
French state oil company Total led a consortium of companies that had been exploring off the coast of South Africa for several years. Their find has excited the entire oil industry and promises to further reduce the influence of OPEC and other big energy-producers.
ZeroHedge:
“With this discovery, 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,” said Kevin McLachlan, Senior Vice President Exploration at Total.
According to Total’s chief executive Patrick Pouyanne, the discovery could hold 1 billion barrels of oil equivalent of gas and condensate resources.
South Africa still imports much of its oil and gas, which makes this one find a potential game-changer for them.
South Africa is currently working on new legislation that would separate the conditions for exploring and exploiting oil and gas resources from those for traditional minerals.
Commenting on Total’s discovery, Andrew Latham, vice president, global exploration at natural resources consultancy Wood Mackenzie, said:
“Even though the well isn’t an oil discovery, if Brulpadda proves to be anywhere near as big as the estimates of up to 1 billion barrels of oil equivalent resources, it will still be a game-changer for South Africa.”