TotalEnergies exits Brulpadda and Luiperd gas finds, describing them as ‘too challenging’ to develop
TotalEnergies has formally announced its withdrawal from the Brulpadda and Luiperd exploration blocks off the southern coast of South Africa, where TotalEnergies EP South Africa holds a 45% interest.
TotalEnergies entered into Block 11B/12B in 2013 and made two gas discoveries, identified as Brulpadda and Luiperd.
The announcement followed an earlier withdrawal from Block 11B/12B by CNRI, which was TotalEnergies’s partner in the block.
In a statement, TotalEnergies indicated that the block could not be progressed to production as “it appeared to be too challenging to economically develop and monetise these gas discoveries for the South African market”.
At the same time, TotalEnergies also announced its decided to exit from offshore exploration Block 5/6/7, where it currently holds a 40% interest.
TotalEnergies still holds exploration rights, together with its various partners, over the Deep Water Orange Basin and Orange Basin Deep blocks, off the west coast, Outeniqua South, off the south coast, and in Block 3B/4B, east of the Deep Water Orange Basin block.
The Department of Mineral Resources and Energy (DMRE) said it notes TotalEnergies's announcement, but expressed confidence that a suitable investor would emerge to monetise the gas discoveries.
"Additionally, we are pleased that TotalEnergies is not entirely leaving oil and gas opportunities in South Africa as they still hold exploration rights," the department said noting its ongoing holdings in exploration blocks.
"The department remains committed to the exploration of the country’s oil and gas resources and will intensify engagements with key roleplayers to ensure the development and sustainability of the sector," the DMRE added.
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