South Africa is set to see some drilling action from Total E&P in the near future. The company will be drilling on Block 11B/12B, which could be one of South Africa’s most prospective oil exploration assets in Africa with multi-billion-barrel potential and a high chance of success. Total is the operator of the block.
The Odfjell Deepsea Stavanger semi-submersible rig is mobilizing from the North Sea to spud the Brulpadda well on Block 11B/12B in December. A discovery would be transformational for the South African oil sector, which has been dormant due to political uncertainty.
Block 11B/12B is one of the first examples of a Black Empowered (BE) company participating in the upstream sector in South Africa. Captrust is the BE partner in Main Street 1549, which will own 10% of the block. In addition, there are rumors that Qatar Petroleum beat out Shell to take a 25% stake in the blocks and the transaction has recently closed. CNR also holds a 20% stake in the block.
Source: Petroleum Africa