Approval from the South African authorities has come through, allowing Total to acquire a 50% interest in Block 11B/12B from CNR International (South Africa), a wholly owned subsidiary of Canadian Natural Resources. Total will become operator of the license and a well is expected to be drilled in 2014.
Block 11B/12B is located in the Outeniqua Basin, around 175 km off the southern coast of the country. The block covers an area of 19,000 sq km with water depths ranging from 200 to 1,800 meters.
“Our acquisition in this extensive frontier exploration asset demonstrates our determination to establish ourselves in new plays. South Africa’s deep offshore, in particular the Outeniqua Basin, is one of the few remaining under-explored offshore regions in Africa.
Recent discoveries in the Falkland Islands (Malvinas Islands) together with the prospects identified on the block offer us very promising opportunitie,” commented Marc Blaizot, senior VP, Exploration at Total. “The results of the upcoming exploration well will be decisive, especially in terms of operability of the area in such a harsh environment.
As the operator, we will leverage our recognized deep offshore expertise and experience in challenging waters such as the North Sea and the Barents Sea, to quickly appraise the potential of this acreage.”
Powered by WPeMatico