By Phenyo Selinda
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 follows the announcement by international energy giant TotalEnergies of 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 stated.
TotalEnergies’ decision to withdraw has raised concerns regarding the future of these offshore projects. However, the DMPR reassures stakeholders of its commitment to the exploration and development of the country’s oil and gas resources. The department emphasised that it will intensify engagements with key role players to ensure the sector’s sustainability and growth.
The department highlighted that despite TotalEnergies’ exit from these specific blocks, the company is not entirely 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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