South African bill heads to parliament with tweaks to please locals and IOCs

South Africa’s long-awaited Upstream Petroleum Resources Development Bill is due to be tabled in parliament in June, writes James Gavin

South Africa’s upstream oil and gas sector could do with a boost, with production having fallen by over half since 2010 due to a lack of exploration aggravated by lower prices. Total’s offshore Luiperd natural gas discovery in 2020 – Africa’s largest find that year – has reinforced hopes for a full recovery, but the need to create fresh terms for the oil and gas sector has forced the government’s hand.