Ongoing deep-sea exploration in the Western Cape should boost investor confidence and contribute positively to the oceans economy.<\/p>\n
This is according to minister of mineral resources, Gwede Mantashe, who led a delegation to the Total Exploration and Production Southern Africa’s Deep Sea Stavenger Rig operations on Saturday (2 February).<\/p>\n
The rig is situated approximately 180km off the shore of Mossel Bay.<\/p>\n
“If we can discover oil and gas here, that will be a game changer for the country in terms of the economy,” Mantashe said.<\/p>\n
“We hope that we will discover oil so that we can reduce our dependence on imported crude oil.<\/p>\n
“We will work with other government departments in giving the project all the support we can, because we believe that it will help support a turnaround in our economy,” he said.<\/p>\n
While the extent of the oil discovery in the Western Cape has not yet been made public, Total has hinted that the signs were positive for a major discovery.<\/p>\n