South Africa’s new oil bill dampens exploration push

摘要

Cape Town—Offshore exploration activity in South Africa is at an all-time high but amendments to key energy legislation might deter investments necessary for the country’s long-term upstream prospects, particularly in respect of shale gas. The emergence of new technology that allows majors to tap more complex plays in frontier locations, coupled with recent large gas finds off Mozambique and Tanzania and higher oil prices have attracted heavyweights including ExxonMobil, Total, Shell and Anadarko.