TotalEnergies, a French energy company, is withdrawing from two offshore gas fields in South Africa (Brulpadda and Luiperd) due to economic viability concerns. The company owns a 45% stake in the block where the fields were discovered. Qatar Petroleum and CNR International, partners in the project, have also announced their intention to withdraw. However, Africa Energy Corp, which holds a 10% stake, plans to stay in the project. The gas fields are significant, with potential to supply a substantial portion of South Africa’s energy needs, but environmental groups have raised concerns about the impact on biodiversity and fishermen.
Key points:
– TotalEnergies exits South African gas fields due to economic challenges
– Qatar Petroleum and CNR International also withdraw from the project
– Africa Energy Corp remains committed to the project
– Gas fields have significant potential to supply South Africa’s energy needs
– Environmental concerns raised about drilling in deep waters
