Total SA has bought 50 per cent offshore explorations rights from CNR International in Block 11B/12B, located in South Africas Outeniqua Basin
The French oil and gas explorer is expected to drill an exploration well in this block in 2014.
The asset in the Outeniqua Basin is located around 175km off the southern coast of South Africa, covering an area of 19,000 sq km. It has water depths ranging from 200 metres to 1,800 metres.
Total senior vice president of exploration, Marc Blaizot said, “South Africa's deep offshore, particularly in the Outeniqua Basin, is one of the few under-explored regions in Africa. Recent discoveries in the Falkland Islands together with the prospects identified on the block offer us very promising opportunities."
Blaizot added that they would leverage on the deep offshore expertise and experience in challenging waters such as the North Sea and the Barents Sea, to quickly appraise the potential of the acreage.
Total is reportedly ranked fifth in South Africa’s oil marketing industry, with a network of 528 service stations.
