Total’s new petroleum discovery off Garden Route coast

Total’s new petroleum discovery off Garden Route coast
10th February 2019 Comments Off on Total’s new petroleum discovery off Garden Route coast Articles,Communications,News Leon van Wyk

The oil / gas discovery by the Total led consortium in deep water 175km off the Garden Route coast could yield one billion barrels of oil translating to four years of oil imports for South Africa. With five major oil companies plus Sasol with market shares of approximately 20%, this find could represent 20 years’ supply for one player. The intention is to drill further holes in the field. This prospect and any further positive outcomes will certainly provide a range of economic opportunities for the Garden Route in the next decades.

https://www.bloomberg.com/news/articles/2019-02-07/total-discovery-opens-new-petroleum-province-off-south-africa

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Leon van Wyk The InvestGardenRoute platform has been established by Leon van Wyk, a chartered accountant by training. His experience in accounting, financial management, strategy, management, corporate finance advisory and economic development consultancy stretches over three decades.