Luiperd

Luiperd Oil and Gas Field Profile

Location and Geology

• The Luiperd Oil and Gas Field is located offshore South Africa, within the Outeniqua Basin, specifically in block 11B/12B.
• It is part of the Paddavissie Fairway Oil and Gas Complex, along with the Brulpadda Oil and Gas Field.

Project Details

• Status: The field is currently in development.
• Operator and Owners: TotalEnergies is the operator, with ownership shared among TotalEnergies (45%), QatarEnergy (25%), CNR International (20%), and Main Street (10%).
• Discovery Year: The Luiperd field was discovered in October 2020.
• Production Start Year: Expected to start production by 2026, although an early production system (EPS) could accelerate this timeline to as early as 2025.

Reserves and Resources

• Gas Reserves: Estimated at approximately 59,464.82 million cubic meters (m³) as of 2022.
• Hydrocarbon Reserves: Estimated at around 105 million barrels of oil equivalent (boe) as of 2022, with a broader estimate of 500 million boe from 2020.
• Oil Reserves: Estimated at about 112 million barrels as of 2022.
• Total Estimated Reserves: Approximately 340 million barrels of oil equivalent (MMboe), with 70% being gas.

Production Capacity

• Design Capacity: The field is expected to produce 2,170.47 million m³ of gas per year and 5.47 million barrels of condensate per year by 2026.
• Peak Production: Once fully developed, the cumulative average output from both Luiperd and Brulpadda fields is estimated to be around 35,000 barrels per day of liquids and about 100,000 barrels of oil equivalent per day (boepd) of natural gas.

Development Plan

• Early Production System (EPS): There is a plan to develop the field through an EPS, possibly utilizing the existing F-A platform with minimal infrastructure upgrades. This approach aims to accelerate first production and utilize the existing GTL facility in Block 9.
• Phase 1 Development: Focuses on low-risk volumes as a proof of concept before additional processing capacity is added. This phase is economically attractive with a Net Present Value (NPV) of USD 2,775 million, an Internal Rate of Return (IRR) of 34%, and a payback period of six years.
• Phase 2 Development: Involves drilling additional wells to increase the production plateau to 350 MMscf/d, which is expected to be maintained until 2054. The Brulpadda field could then sustain this plateau for an additional 12 years until 2066.

Economic and Social Impact

• Job Creation: The project is estimated to create 1,500 direct jobs and 5,000 indirect jobs.
• Economic Benefits: The project could boost South Africa’s annual GDP by 22 billion rand and benefit the country’s balance of payments by 26.5 billion rand each year. It is also expected to generate an additional 25 billion rand in taxes and royalties for the government.
• Energy Contribution: The gas from Luiperd and Brulpadda could be used to convert coal-fired power plants to run on baseload gas, providing a clean and reliable source of electricity.

Infrastructure and Synergies

• Existing Infrastructure: The development may utilize the existing F-A platform and the GTL facility in Block 9, which has been under care and maintenance since 2020. This synergy allows for the processing of forecasted gas and condensate without significant new infrastructure.

Environmental and Regulatory Considerations

• The project is subject to environmental and regulatory approvals. The development plan includes preparing environmental applications and production right applications, with a Final Investment Decision (FID) targeted for 2023.

In summary, the Luiperd Oil and Gas Field represents a significant energy resource for South Africa, with substantial economic and social benefits. Its development is crucial for enhancing the country's energy security and contributing to its economic growth.