South Africa's waters may be hiding future giant oil and gas discoveries potentially capable of changing the country's power generation mix by reducing its use of coal, says Tsvetana Paraskova writing for seekingalpha.com

The potential giant discoveries could help South Africa boost its gas-to-power program to reduce reliance on coal-fired power generation.

South Africa’s new laws on regulating the petroleum industry are expected to be passed in the middle of this year.

Until exploration activity picks up, South Africa is investing in LNG infrastructure at ports to produce electricity and help reduce coal dependence.

Dr Anongporn Intawong, Team Leader Geoscientist at seismic surveys provider Spectrum, believes there could be a giant future discovery off South Africa's coast. Intawong delivered a presentation 'Future giant discovery in the Outeniqua Basin, offshore South Africa' at Finding Petroleum's event Finding East & Southern African Oil & Gas in London last week.

"What we are seeing is that [there] might be a future giant discovery in this basin," Intawong said at the event, reports Rigzone, whose assistant European editor Andreas Exarheas tweeted a photo from the presentation.

Spectrum's Intawong did not quantify the size of possible future discoveries, but reminded the audience that previous discoveries in Outeniqua Basin have yielded recoverable reserves of up to 314 million barrels of oil equivalent.

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