Mineral Resources Minister Mr. Gwede Mantashe has welcomed the announcement made by Total earlier today, following a significant gas discovery in the Outeniqua Basin, off the southern coast of South Africa.
Following this discovery and confirmation of its potential, the company has indicated it will follow up with 3D seismic tests to be followed up by four exploration wells. The Minister visited the rig on Saturday to receive an update on the drilling project.
“It is exciting for our country that this discovery has been made. It is potentially a major boost for the economy, and we welcome it as we continue to seek investment to grow our economy,” the Minister said.
“It further confirms that our decision to separate legislation for oil and gas from traditional minerals, so that we can support this sector in realising its full potential, is the correct one,” the Minister added.
“We are moving with speed to finalise this legislation, to ensure that it is presented as soon as the 6th Parliament sits.”
Issued by the Department of Mineral Resources