TotalEnergies took the pragmatic approach when it realised that its oil and gas ventures off the coast of Mossel Bay wouldn’t be fruitful.

Energy expert, LizMcDaid says to understand why the French oil giant copped out of the project, one needs to look at it from a global perspective and take into consideration the effects of climate change.

“To fossil fuels soon going to be replaced by renewable energy options, the company needed to ensure that searching for oil and gas would be viable for the South African market.” said McDaid.

Previous oil and gas explorers also ran into trouble at sea which due to the unpredictable conditions. In 2013, the French multinational oil giant entered into Block11B/12B and made two gas discoveries – Brulpadda and Luiperd.

TotalEnergies owns a 45 percent interest in the project. The withdrawal announcement follows mounting speculation that TotalEnergies would exit the block after Canadian Natural Resources International with a 20 percent stake in the block also announced its removal.