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HomeTop News-Tanzanian licensing round draws strong response ahead of deadline

-Tanzanian licensing round draws strong response ahead of deadline

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President Kikwete

Tanzania’s fourth oil and gas licensing round offering eight blocks has met with a strong response and bids are to be opened on Thursday, an official with the state-owned Tanzania Petroleum Development Company said Tuesday.
“The round closes Thursday,” TPDC’s senior petroleum geochemist Meshack Kagya said. “The response has been good,” he said.
India’s ONGC Videsh, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is likely to bid for deep-water blocks offered in the round as it seeks to raise its portfolio in Africa.
The company is currently evaluating whether to join up with a partner or bid alone as it studies the blocks, according to a report in Indian newspaper, Business Standard.
“We are examining the blocks on offer. Based on our evaluation, we will decided to place bids for one or more blocks,” ONGC Videsh’s managing director, S P Garg was quoted as saying.
Garg said the company was looking to expand its geographical footprint on the continent. It currently has producing assets in South Sudan through its 25 percent stake in the Greater Pioneer Operating Company and a 25% interest in Block 5a, Sudan, Libya and Nigeria.
Tanzania is offering seven deep ofshore blocks in water depths ranging from 2,000 meters to 3,000 meters and a Lake Tanganyika block located in 1,500 metres along the western arm of the East African Rift System.
Tanzania’s recoverable gas reserves are estimated at 43 Tcf, which could rise five-fold over the next five years, but it has yet to strike oil. To date, BG Group in partnership with Ophir Energy and Statoil with partner,
ExxonMobil have made discoveries with combined resources put at 35 Tcf. The companies have established a framework for a joint LNG export project in the southern region of Lindi.

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