MTN boss could make billions from the massive Brulpadda gas find – and e.tv’s owner could also benefit

MTN chairperson Phuthuma Nhleko may have hit it big after the French energy giant Total discovered a large gas field off the South African coast.

Total owns 45% of the exploration rights to the Brulpadda block, an area of 19,000 km² some 275km south of Mossel Bay.

These are the other shareholders:

25% Qatar Petroleum

20% Canadian Natural Resources

10% Main Street 1549

Nhleko is the only South African director of Main Street, according to company records. The Canadian company Africa Energy holds 49% of Main Street, while Nhleko’s company Arostyle Investments owns 51%. 

This gives his company an effective 5.1% interest in an asset that could yield $1 trillion according to the most optimistic estimates – potentially valuing his stake at more than $50 billion – a cool R685 billion. 

Apart from Nhleko, there is only one other South African business interest in Brulpadda: HCI, which owns e.tv (through