Total offshore find fits with Operation Phakisa, says Cabinet | Fin24
 
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Total offshore find fits with Operation Phakisa, says Cabinet

Feb 15 2019 19:31
Khulekani Magubane, Fin24

Cabinet says the offshore gas find announced by Total last week segues neatly into government’s efforts to develop the "ocean economy" through the second phase of its Operation Phakisa.

During the 2019 Mining Indaba, petroleum and gas giant Total announced that it found offshore gas deposits at its Brulpadda prospects in the Outeniqua basin, some 175km off the coast of South Africa.

"Cabinet has lauded the offshore discovery of gas condensate by oil company Total that could contain one billion barrels of resources, which will significantly boost the country's oil and gas supplies," the Cabinet statement said.

According to the Cabinet statement released on Friday, South Africa has potential resources of nine billion barrels of oil and 60 trillion cubic feet or 11 billion barrels of oil equivalent of gas offshore.

"As part of the national effort to grow the economy and create jobs, government has – through Operation Phakisa for the Oceans Economy – facilitated opportunities in the country’s oil and gas sector for growth and investment," the Cabinet statement said.

During a debate on President Cyril Ramaphosa’s State of the Nation Address, opposition MPs hailed the offshore deposit find, but said that Petro SA must be involved in subsequent operation efforts as a South Africa partner.

total  |  brulpadda  |  oil and gas  |  cabinet
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