Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Osinbajo, Abiodun, Sanwo-Olu, Ibori, Others Bid Farewell As Awujale Is Buried

    July 14, 2025

    Presidential Team Arrives In London To Repatriate Buhari’s Corpse

    July 14, 2025

    Awujale Left A Precious Legacy, Placed Ijebu On World Map – Ibori

    July 13, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Osinbajo, Abiodun, Sanwo-Olu, Ibori, Others Bid Farewell As Awujale Is Buried
    • Presidential Team Arrives In London To Repatriate Buhari’s Corpse
    • Awujale Left A Precious Legacy, Placed Ijebu On World Map – Ibori
    • Sinner Defeats Alcaraz To Win First Wimbledon Title
    • Buhari Contributed His Quota To Nigeria’s Unity, Development – Ibori
    • Breaking: Ex-President Muhammadu Buhari Dies In London
    • Tinubu Arrives Abuja After Saint Lucia, Brazil Visit
    • FIFA Club World Cup: All Set PSG, Chelsea Final
    Facebook X (Twitter) Instagram
    TheScrutinyNG
    Subscribe
    Monday, July 14
    • Home
    • Politics
    • Business
    • News
      • World News
    • Sports
    • Interviews
    • Opinion
    • Entertainment
    • Columnists
    • ABOUT US
    TheScrutinyNG
    Home » TotalEnergies Withdraws From S’African Offshore Gas Fields Over Economic Concerns
    2 Mins ReadJuly 29, 2024

    TotalEnergies Withdraws From S’African Offshore Gas Fields Over Economic Concerns

    By Festus AdeloyeJuly 29, 2024No Comments2 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    French energy giant TotalEnergies said on Monday it was withdrawing from two offshore gas fields in South Africa as they did not appear economically viable.

    A subsidiary of TotalEnergies owns a 45 per cent stake in a block off the country’s southern coast where the fields, Brulpadda and Luiperd, were discovered.

    TotalEnergies said they could “not be turned into a commercial development as it appeared to be too challenging to economically develop and monetise these gas discoveries for the South African market.”

    The block, spanning 19,000 square kilometres (7,335 square miles), is located 175km (109 miles) off the South African south coast.

    Qatar Petroleum, which holds a 25 per cent interest in the block, also announced its intention to withdraw from the project, said Africa Energy Corp, a Canadian oil and gas exploration company with a 10 per cent stake through a subsidiary.

    Another partner, CNR International which owns 20 per cent of the block, had announced its departure earlier in July.

    Africa Energy Corp said it did not intend to withdraw from the project and noted that under a joint agreement, companies that pull out of the block would give up their stakes for free to those that stay.

    The company said the gas fields were “the largest discoveries of natural gas resources in South Africa.”

    It added, “If developed, it could supply a significant portion of the country’s energy needs as it seeks to transition away from coal-fired power plants.”

    Environmental groups have opposed the project, warning that drilling in the deep waters would threaten the region’s biodiversity and fishermen.

    AFP

    Author

    • Festus Adeloye
      Festus Adeloye

      View all posts
    South Africa TotalEnergies
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Festus Adeloye

    Related Posts

    Banking & Finance

    Banks To Report Customer Transactions That Exceed N5m – NOA

    July 9, 2025
    Banking & Finance

    Verghis Takes Over As World Bank Country Director For Nigeria

    July 4, 2025
    Banking & Finance

    FirstBank Launches Advanced Facial Recognition On Mobile App

    June 30, 2025
    Breaking News

    Tinubu Signs Four Landmark Tax Reform Bills Into Law

    June 26, 2025
    Breaking News

    Multichoice Slashes DStv Decoder Price By 50 Percent

    June 25, 2025
    Aviation

    FCCPC Invites Air Peace Over Failure To Refund Fares For Canceled Flights

    June 16, 2025

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Editor's Picks

    Osinbajo, Abiodun, Sanwo-Olu, Ibori, Others Bid Farewell As Awujale Is Buried

    July 14, 2025

    Presidential Team Arrives In London To Repatriate Buhari’s Corpse

    July 14, 2025

    Awujale Left A Precious Legacy, Placed Ijebu On World Map – Ibori

    July 13, 2025

    Sinner Defeats Alcaraz To Win First Wimbledon Title

    July 13, 2025
    Latest Posts
    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • US Politics
    • EU Politics
    • Business
    • Opinions
    • Connections
    • Science

    Company

    • Information
    • Advertising
    • Classified Ads
    • Contact Info
    • Do Not Sell Data
    • GDPR Policy
    • Media Kits

    Services

    • Subscriptions
    • Customer Support
    • Bulk Packages
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 The Scrutiny. Designed by Design Streams.

    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.