A significant gas-condensate find off the coast of South Africa has been described as a game changer - it's expected to boost the country's economy by R1-trillion over the next 20 years.
French multinational oil and gas company, Total announced on Thursday that it has opened up a new oil and gas province off the coast of Mossel Bay at its Brulpadda prospects on Block 11B/12B in the Outeniqua Basin.
John Maythem spoke to Africa New Energies' Stephen Larkin to find out more.
In terms of what it means for South Africa economically, I think the most important thing to dwell on is if you go back in history, Mossgas was a world first in gas to liquids and something that South Africa is good at with all its experience with Sasol. But the problem was when it was commissioned without having sufficient natural gas stock and hoped to find a find like this, but for 20 odd years they didn't...— Stephen Larkin, Founder - Africa New Energies
This find means that Total will help get Mossgas back to production of 45 000 barrels a day and the substitution of imports with local production just with Mossgas, will add about R15 billion a year to the South African economy for the next three decades.— Stephen Larkin, Founder - Africa New Energies
Click on the link below to hear more about the find....
This article first appeared on 702 : [LISTEN] What you need to know about 'game-changing' gas-condensate discovery