Norwegian oil group Statoil today
announced a large natural gas find with US partner ExxonMobil off
Tanzania’s coast, the third major discovery in a year by the two
companies in the country.
The Tangawizi-1 well contained between
712 million and 1.07 billion barrels of oil equivalent (boe), bringing
the total reserves of the block in question to between 2.67 and 3.03
billion boe, the Oslo-based company said in a statement.
It was located at a depth of 2,300
metres, 10 kilometres from the previous Zafarani and Lavani discoveries,
which the company believes could hold recoverable reserves of up to
2.32 billion boe.
Statoil is the operator of the block on behalf of the
Tanzania Petroleum Development Corporation and has a 65 percent stake in
the license, with the remaining 35 percent held by ExxonMobil.
Source: The Daily News, www.dailynews.co.tz, reported from Dar es Salaam
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