The Department of Minerals and Petroleum Resources has expressed confidence that a suitable investor will come on board and “be able to monetise” gas discoveries off the south coast of South Africa.
This after international energy giant, TotalEnergies, announced its withdrawal from offshore Block 11B/12B and 5/6/7.
“The Department of Mineral Resources and Energy (DMRE) notes TotalEnergies’ announcement to exit from offshore blocks 11B/12B and 5/6/7. We are confident that a suitable investor will come on board and be able to monetise the gas discoveries.
“The department remains committed to the exploration of the country’s oil and gas resources and will intensify engagements with key role players to ensure the development and sustainability of the sector,” the department said in a statement.
Furthermore, the DMPR said it was pleased that the company is not totally withdrawing from South Africa.
“Additionally, we are pleased that TotalEnergies is not entirely leaving oil and gas opportunities in South Africa as they still hold exploration rights over Blocks Deep Water Orange Basin and Orange Basin Deep, Outeniqua South, and recent entry in Block 3B/4B east of Deep Water Orange Basin,” the department said.
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