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The finding is expected to provide a much-needed boost to South Africa’s ailing economy, which was already in recession before the coronavirus pandemic hit.
JOHANNESBURG – French energy giant Total announced on Wednesday that it had made a second “significant” gas discovery off the southern coast of South Africa, months after a similar find in 2019.
The gas reservoir was found 175 kilometers (110 miles) offshore near another discovered early last year.
“Total has made a significant gas condensate discovery at the Luiperd prospect … in the Outeniqua basin,” it said in a statement.
“This discovery follows the adjacent work that opened the Brulpadda discovery in 2019, which turned out to be a major new oil province in the region.”
The finding is expected to provide a much-needed boost to South Africa’s ailing economy, which was already in recession before the coronavirus pandemic hit.
Finance Minister Tito Mboweni is scheduled to produce a long-awaited medium-term budget later on Wednesday, which the government is finding it increasingly difficult to finance.
Total exploration and production president Arnaud Breuillac said the second discovery showed “the world-class nature of this offshore gas game.”
In the statement, Breuillac added that Total had acquired “important data” on the reserves that would help the company to interact with the South African authorities on “possible conditions of … commercialization”.
Total has a 45% stake in the block, along with firms from Qatar, Great Britain and South Africa.
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