Africa Oil & Gas: “Total’s South Africa finding could hold 1 billion barrels oil equivalent” – CEO

French oil and gas major Total’s South African offshore discovery could contain 1 billion barrels of total resources and is ‘probably quite big’, Chief Executive Patrick Pouyanne said on Thursday.

Total said it had made a significant gas condensate discovery after drilling its Brulpadda prospects on Block 11B/12B in the Outeniqua Basin.

‘It is gas condensate and light oil. Mainly gas. There are four other prospects on the licence that we have to drill; it could be around 1 billion barrels of total resources of gas and condensate,’ Pouyanne said.Source: Reuters