France's Total to explore offshore S.Africa in 2014 - CNBC Africa

France's Total to explore offshore S.Africa in 2014

Southern Africa

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The field is situated in the Outeniqua Basin, about 175 km off the southern coast of South Africa. PHOTO: Getty Images

In September Total acquired a 50 perc ent interest in Block 11B/12B from CNR International, a subsidiary of Canadian Natural Resources Limited.

"Total becomes the operator of the block which covers an area of about 19,000 sq km and where we will drill next year our first exploration well," Abiodun Afolabi, Total's general secretary for Africa, told an oil and gas conference in Cape Town.

The field is situated in the Outeniqua Basin, about 175 km off the southern coast of South Africa, which was drawing record exploration interest from oil majors such as Shell and Exxon Mobil.

Afolabi said that South African authorities had also granted permission to convert a technical cooperation permit on another block, Outeniqua South, where the company hopes to shoot 7,000 km of 2D seismic data.

Total is aiming for a production target of three million barrels of oil a day by 2017, with deep-water production in Africa a key driver, he said.

"We expect to see an increasing proportion of the operated production in Africa coming from the deep offshore, (which) has risen steadily from 34 percent in 2006 to 72 per cent in 2012," Afolabi said.

He added that Africa accounts for approximately a third of the group's hydrocarbon production, with Total also supplying about 15 percent of the continent's downstream market, some 14 million tonnes of petroleum products a year.

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