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Market Chatter: TotalEnergies Plans Offshore Drilling Campaign in South Africa
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Market Chatter: TotalEnergies Plans Offshore Drilling Campaign in South Africa
Aug 12, 2025 4:18 AM

06:51 AM EDT, 08/12/2025 (MT Newswires) -- TotalEnergies (TTE) is preparing to drill up to seven wells in South Africa's Deep Western Orange Basin, located about 211 km off the coast of Saldanha Bay, Bloomberg reported Tuesday, citing SLR Consulting, an independent environmental assessment company.

The report said that the area borders Namibia, where major oil discoveries have been made.

A draft environmental assessment is available for public comment until Sept. 10, according to Bloomberg.

Drilling could begin as early as next year, CEO Patrick Pouyanne said during an earnings call last month, the report added.

TotalEnergies did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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