Offshore Drilling Rush Could Transform South Africa

[Nkawu]

Even in the Texas Permian basin?

I would need sponsorship from a company to come over from the UK.

 

[Hogpatrol]

I would need sponsorship from a company to come over from the UK.

Would it be any easier to find something in Australia?

 

[Eric Anderson]

I would need sponsorship from a company to come over from the UK.

Start hitting the phones. With internet dialing you aren’t going to pay huge amounts. Somebody out there wants you, find them.

 

[Scrumbag]

I work for the Norwegian oil/gas company Equinor (former Statoil..). We are trying to get a deal with Tanz government along with Exxon to start building an onshore gas plant near Lindi to produce the offshore gas. Thus far we have used about 1 billion USD along with Exxon and have yet to strike a deal (I guess that will take a loot of greasing..).....and given the astronomical corruption level in Tanz I am no longer optimistic...but we shall see

Ah, Statoil! I spent several years of my career watching you guys for Lundin, during which time you guys finally drilled out Sverdrup!

 

[375 Ruger Fan]

Reuters (2/27) reports that in December, Total and its partners will resume drilling at the Brulpadda prospect offshore South Africa, according to a minority partner in the field. The prospect “is a gas condensate discovery that could hold total resources of 1 billion barrels of oil equivalent, Total said on Feb. 7.” Africa Energy CEO Garrett Soden said, “We will come back in the next summer window in December and drill up to four exploration wells.” Africa Energy holds a 4.9 percent stake in the block. Meanwhile, “The drilling costs will lower to around $100 million per well, he said, from the $154 million the first well drilled at Brulpadda cost.”

 

[BRICKBURN]

................“The drilling costs will lower to around $100 million per well, he said, from the $154 million............

They must have found a cheaper politician.

 

[375 Ruger Fan]

They must have found a cheaper politician.

That and the price for deepwater drillships has decreased quite a bit.

 

[tarbe]

That and the price for deepwater drillships has decreased quite a bit.

View attachment 271170

Stop reminding me!

And you’re welcome!

 

[CBH Australia]

How do i get a job there? I could squander my money hunting and put something back into the local economy..

 

[mark-hunter]

\

I'm glad I'm not the only one who immediately thought "hmm doing the 28 on 28 off shift in RSA might not be half bad. Company paid business class flights depending on the company, and you would already be in country to hunt.

Well that was my idea also. Working for Total, or for Totals contractors.

 

[375 Ruger Fan]

TotalEnergies to drill offshore South Africa, targeting major discoveries​

TotalEnergies to drill offshore South Africa, targeting major discoveries

TotalEnergies SE is planning a fresh drilling campaign offshore South Africa in a vast basin that includes major oil discoveries in neighboring Namibia.

worldoil.com

 

[Bandera]

I hope that the benefits are not squandered.

Have faith in human nature, of course the benefits will be squandered.

They may even have somebody claim that their ancestors once lived right there. Therefore they are entitled to everything.

 

[Hogpatrol]

TotalEnergies to drill offshore South Africa, targeting major discoveries

TotalEnergies SE is planning a fresh drilling campaign offshore South Africa in a vast basin that includes major oil discoveries in neighboring Namibia.

worldoil.com

I got a letter from some charity about people starving in Nigeria. They've been pumping oil for decades to the tune of hundreds of billions of dollars and they're still in trouble. Meanwhile on the other side of the continent, it's another world.

 

[mark-hunter]

I got a letter from some charity about people starving in Nigeria. They've been pumping oil for decades to the tune of hundreds of billions of dollars and they're still in trouble. Meanwhile on the other side of the continent, it's another world.

It is all about who makes the drilling.
For example, Saudi Arabia has already taken over Aramco, and they have no such problems.

Foreign companies taking out the product & profit does not necessarily make a social welfare state.

 

[375 Ruger Fan]

I got a letter from some charity about people starving in Nigeria. They've been pumping oil for decades to the tune of hundreds of billions of dollars and they're still in trouble. Meanwhile on the other side of the continent, it's another world.

It is all about who makes the drilling.
For example, Saudi Arabia has already taken over Aramco, and they have no such problems.

Foreign companies taking out the product & profit does not necessarily make a social welfare state.

@mark-hunter it's not about who does the drilling, which is an expense or a cost. It's about who get the revenue from the production. The biggest cut usually goes to the oil companies, who do the drilling and build and operate the infrastructure. However, greedy and sometimes corrupt politicians makes deals so that they get a piece of the action. In several third world countries that have significant oil and gas production, the richest guy in the country is the president.

In Louisiana in the 1930s, Governor Huey P. Long had "Win or Lose Oil Company" and he got a overriding royalty on most of the state lease. With an override, you get a cut of the revenue but you don't pay any of the capital requirements. It's a great deal!

In Nigeria, I worked on a multi-billion dollar project and we had an interesting partner. How they came to be is an interesting story.

Folorunso Alakija’s Oil Block: Model of Nigerian Elite Racketeering?

Odion Omonfoman This article is in response to the twitter posts by celebrated Nigerian journalist, Oluwakayode Olumide Ogundamisi on the above subject.

punchng.com