Sponsored Content: Brulpadda – Let’s not squander the ‘money toad’ By Brian Kantor
Exploration for oil or minerals is a risky activity. And when a significant find is made, there is the further risk that the terms allowed to the finder may turn out to be adverse. The larger the resource proved, the more adverse these terms are likely to be.
Exploring for oil or gas in deep, turbulent South African waters is a particularly risky endeavour. Rules applying to exploration for oil or gas are still to be re-drafted and voted upon. Yet, despite all this inherent uncertainty – all the known unknowns – Total and its partners went ahead and explored off our coast. They have discovered what is clearly a significant quantity of hydrocarbons in their concession area 275km south of Mossel Bay, called Brulpadda.
To make the best of what has become possible, minimal consideration should be given to any other potential interests in the resource, other than the general interest in faster economic growth. Any interests that might impose themselves on the project managers and the capital providers should be actively disallowed.
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