Mineral and Petroleum Resources Minister Gwede Mantashe says the future of South Africa depends on the exploration and extraction of oil and gas, which will have a huge impact on the country’s Gross Domestic Product (GDP).

Mantashe paid a visit to the Renergen Helium extraction project in Virginia in the Free State, to assess progress of the multi-million-rand project.

Helium has been described as an economic enabler which will attract investment into the country.

The helium project, which has entered its second phase, is expected to create at least 1 000 temporary jobs, with about 250 as permanent employment.

The Minister says the plant has the potential of becoming the world’s largest helium producing plant.