Thursday, July 31, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Canadian Firm Takes Operatorship of South Africa’s Offshore Block

Simon Osuji by Simon Osuji
November 26, 2024
in Business
0
Canadian Firm Takes Operatorship of South Africa’s Offshore Block
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter



Nov 26, 2024

(Credit: Africa Energy)


(Credit: Africa Energy)

Canadian oil and gas exploration company Africa Energy has formally become the operator of Block 11B/12B offshore South Africa, following the withdrawal of three partners from the development.

Africa Energy assumed operatorship of the block through its investment in Main Street 1549.

To remind TotalEnergies, QatarEnergy, and CNRI, previous partners in the Block 11B/12B, exited the development earlier in 2024.

Main Street currently holds a 10% interest in Block 11B/12B. In light of the withdrawal of the joint venture partners, and subject to all relevant regulatory approvals by South African authorities, Main Street expects to hold 100% interest in Block 11B/12B.

Africa Energy said Main Street is currently in the process of obtaining all the important information from the previous operator, including drilling, reservoir and development engineering data.

Also, Main Street is in the process of completing the Environmental and Social Impact Report (ESIR) and expects to submit the report in the first quarter of 2025.

The approval of the Production Right application will not occur until after the Block 11B/12B joint venture receives environmental authorization in respect of the ESIR, the company noted.

The Block 11B/12B is located in the Outeniqua Basin, around 175 kilometers off the southern coast of South Africa, and covers an area of 19,000 square kilometers with water depths ranging from 200 to 1,800 meters.

It contains the Brulpadda and Luiperd discoveries, said to be the largest discoveries of natural gas resources in South Africa, and if developed could supply a significant portion of the country’s energy needs as it seeks to transition away from coal fired power plants.

Source link

Related posts

These Are The Top Ethereum Holding Public Companies

These Are The Top Ethereum Holding Public Companies

July 31, 2025
Why Kenya’s Youth Must Lead the National Rebirth

Why Kenya’s Youth Must Lead the National Rebirth

July 30, 2025
Previous Post

Phone Maker Xiaomi Made the Car That Apple Couldn’t

Next Post

Is This a CBDC Game-Changer?

Next Post
Is This a CBDC Game-Changer?

Is This a CBDC Game-Changer?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Inaugural edition of Art021 in Hong Kong is as ambitious as it is scattered

Inaugural edition of Art021 in Hong Kong is as ambitious as it is scattered

11 months ago
Top 10 African countries with the highest cost of diesel at the end of 2024

Top 10 African countries with the highest cost of diesel at the end of 2024

7 months ago
New SAMIM force commander is SA Army veteran

New SAMIM force commander is SA Army veteran

1 year ago
French Navy warship Mistral in Nigeria for maritime exercises

French Navy warship Mistral in Nigeria for maritime exercises

2 years ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Global ranking of Top 5 smartphone brands in Q3, 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.