TotalEnergies plans to quit South African offshore gas discoveries, prefers neighbouring Namibia

TotalEnergies SE is set to refocus its exploration strategy, opting to relinquish its gas-condensate discoveries off South Africa's coast in favour of more promising ventures near Namibia. The French energy giant, after significant investments and modest success in the Brulpadda and Luiperd fields, cites commercial viability concerns amidst South Africa's limited gas market. Instead, it aims to intensify efforts in the Orange Basin, aligning with developments in neighbouring Namibian waters, marking a strategic shift amid regional energy dynamics.

Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

Join us for BizNews' first investment-focused conference on Thursday, 12 September, in Hermanus, featuring top experts like Frans Cronje, Piet Viljoen, and more. Get insights on electricity and exploiting SA's gas bounty from new and familiar faces. Register here.

By Francois de Beaupuy and Paul Burkhardt

TotalEnergies SE plans to exit its discoveries of gas-condensate off the tip of South Africa to prioritize exploration in other areas closer to Namibia, according to people familiar with the matter.

___STEADY_PAYWALL___