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South Africa Expects to Renew Total's Offshore Exploration Right

Source: Reuters 10/20/2017, Location: Africa

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South Africa is expected to renew Total’s offshore exploration rights next year, the chief executive of the state petroleum agency said. “It is expected to be granted in the second quarter of 2018,” Lindiwe Mekwe, acting CEO of the Petroleum Agency of SA, told Reuters.

France’s Total stopped drilling off South Africa’s southern coast in 2014 after experiencing mechanical problems with its rig in rough sea conditions. It operates Block 11B/12B, where it holds a 50 percent stake with CNR International, a subsidiary of Canadian Natural Resources Ltd. (Reporting by Wendell Roelf; editing by Ed Stoddard and Jason Neely)

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