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Bloomberg
Total SE and its partners made a second gas-condensate find off the southern coast of South Africa, a country that imports most of its oil.
The “significant†discovery of gas condensate — a light liquid hydrocarbon — comes after Total said last year it had opened up a new “world-class†oil and gas province off South Africa. The drilling program is a rare example of exploration in a frontier area, with activity dropping off dramatically
elsewhere amid the oil-price collapse.
The Luiperd-1X well on Block 11B/12B was drilled to a total depth of about 3,400 metres (11,150 feet) and encountered 73 metres of gas condensate, Total said on Wednesday in a statement. The French company will now conduct a detailed assessment of the reservoir in conjunction with its other partners.
Oil exploration has dropped amid lower prices and waning demand. This year, as the coronavirus slowed economic activity, the number of rigs offshore Africa plummeted to single digits, according to data from Baker Hughes.
In February 2019, Total and its partners made an estimated 1 billion-barrel find on Block 11B/12B.
Total operates the block with a 45% working interest.