Policy Certainty, Big Rewards: South Africa’s Oil and Gas Sector Could Unlock R23 Billion GDP Boost and 20,000+ Jobs
The EnerGeo Alliance, citing the findings of its report, emphasises that investor certainty is essential to unleashing South Africa’s oil and gas potential, which rivals Namibia’s. According to Global Policy Senior Director Ross Compton, major projects like Block 11B/12B in the Outeniqua basin stand to generate over 20,000 jobs (direct, indirect, and induced) and boost South Africa’s annual GDP by nearly R23-billion. Beyond GDP, developing the upstream sector promises significant tax revenue (e.g., R8.6 billion annually from Brulpadda and Luiperd) and crucial non-revenue benefits like infrastructure development and energy security.
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