SANEA KNOWLEDGE HUB
A selection of media items are stored here to enhance and stimulate information exchange and debate between SANEA members.
6 December 2018
LIFTING OF THE MORATORIUM ON OIL & GAS EXPLORATION
SANEA notes with interest that the Minister of Energy announced yesterday that the moratorium imposed in June 2018 on granting applications for technical co-operation permits, exploration rights and production rights until a notice of invitation for applications is published, will be amended to allow applications to be made.
Although the World and South Africa are in the major energy transition to cleaner energy, South Africa is going to be reliant on hydrocarbons in our energy mix for several more years and it will be far better for the country to use local resources rather than imported resources as is the case currently. Not only will the use of local resources improve the balance of payments position, it will also provide positive impetus to the economy and create new jobs, both of which will be of benefit to the country as a whole.
SANEA looks forward to increased interest in the exploration for local oil and gas resources.