South African President, Jacob Zuma, on Wednesday unveiled a new “go-getting” oil and gas exploration strategy for the country’s coastal waters.

Addressing senior South African and Malaysian government representatives in Durban, believed to be Africa’s busiest port, said South Africa’s coastal waters could comprise about 9 billion barrels of crude and large quantities of natural gas.

Zuma said the state was poised to drill 30 exploration wells over the next decade.

“Over the next 20 years, this could lead to the production of 300,000 barrels of oil and gas per day,” Reuters quoted Zuma as having told the delegates in Durban.

South Africa has large quantities of minerals like gold, platinum and coal. But Africa’s well-advanced economy has continuously imported oil all these years.

Reuters quoted Zuma as having said that 9 billion barrels of crude were equivalent to four decades of South African oil consumption.

Gas deposits could be equal to about 11 billion barrels of oil equivalent, equal to 375 years of consumption, Zuma said.

The South African government has in recent times come up with audacious plans aimed at creating jobs and improving the economy of the country, which has been in the doldrums since the global economic meltdown in 2008.

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