Total: discovers gas-condensate in South Africa

(CercleFinance.com) - Total announces that it has made a significant gas-condensate discovery on the Luiperd prospect, located on Block 11B/12B in the Outeniqua Basin, 175 kilometres off the coast of South Africa.


The Luiperd well was drilled to a total depth of approximately 3,400 metres and found 73 net metres of gas-condensate in well-developed and good quality Lower Cretaceous reservoirs.

Covering 19,000 square kilometres, Block 11B/12B is operated by Total with a 45% interest, alongside Qatar Petroleum (25%), CNR International (20%) and Main Street, a South African consortium (10%).

However the stock remains in choppy waters, down over 3.5% and underperforming the CAC 40 by about 1% on Wednesday.


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