South Africa’s Gazania development advances
Independent able to progress South African plans in contrast to Shell’s legal setbacks last year
South Africa’s Gazania-1 prospect will spud in September, AIM-listed operator Eco Atlantic confirms. Gazania-1 is around 25km off South Africa’s northern Cape, near the maritime boundary with Namibia, and has “the potential of over 300mn bl” of light oil, according to Eco Atlantic COO Colin Kinley. The drilling announcement comes around six months after a court ruling suspended Shell’s seismic survey off South Africa’s Wild Coast amid concerns over the potential impact on marine life. That decision raised concerns about the future of South Africa’s nascent offshore upstream sector, and at the time analysts suggested investors ought to take environmental and community concerns into account to
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised