2014-02-07 20:23:04 - South Africa Oil and Gas Report Q1 2014 - a new market research report on companiesandmarkets.com
Upstream exploration has been experiencing a boom recently due to the increasing prospectivity of South Africa´s underexplored offshore and as well as progress in the field of shale gas and coal bed methane development. Majors ExxonMobil and Total have joined Shell in exploring South Africa´s offshore, while growing political support to move forward with shale development should see permits issued at some point in Q1 2014. All these developments point towards considerable upside to South Africa´s oil and gas sector which will struggle to match growing demand over the coming years.
The main trends and developments in South Africa´s oil and gas sector are:
- Interest peaked in South Africa´s offshore potential with Shell, ExxonMobil and now Total exploring in the deeper
water areas. Total has announced that it will begin drilling operations in its 11B/12B license in 2014. Shell also hinted that it would begin drilling operations in its Orange Basin permit at some point in 2014, although this has not been finalised.
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