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2014-10-16 21:20:00

S.AFRICA: 9 BLN BBL OIL

S.AFRICA: 9 BLN BBL OIL

South African President Jacob Zuma outlined ambitious plans on Wednesday for oil andgas exploration in coastal waters that he said could contain as much as 9 billion barrels of crude and vast quantities of natural gas.

In a speech to senior South African and Malaysian officials in the port city of Durban, Zuma said the government wanted 30 exploration wells drilled in the next 10 years.

"Over the next 20 years, this could lead to the production of 300,000 barrels of oil and gas per day," Zuma said, adding that the industry needed a legislative framework that would benefit both South Africa and participating…

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Tags: SOUTH, AFRICA, OIL, GAS, TOTAL, SHELL, EXXON, ENI,
Chronicle:
S.AFRICA: 9 BLN BBL OIL
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