Tanzania will never be the same again following the latest discovery of 2.17 trillion cubic feet (tcf) of natural gas along the Ruvu Basin.
Such discoveries, according to the country’s Minister for Energy and Minerals, Prof Sospeter Muhongo, will enable the country to become a gas-economy and use the resource to generate more electricity and shun overdependence on hydro sources.
The minister made the remarks in Dar es Salaam when making official announcement of the new discovery in Ruvu by United Arab Emirates (UAE)-based Dodsal Hydrocarbons and Power Tanzania Limited.
The company made the finding in July last year, in three wells it had tried in its licensed block. The company is still conducting exploration with hopes of striking more gas in the area.
Dodsal signed a Petroleum Sharing Agreement (PSA) with the Tanzania Petroleum Development Corporation (TPDC) in 2007 after which it started a seismic study of the licensed block.
Dodsal Hydrocarbons and Power Tanzania Limited is a subsidiary of Dodsal Resources based in Dubai. So far, the firm has drilled three wells at Mbuyu, Mtini and Mambokofi in the exploration area in Coast Region.
The new finding brings the sum of proven natural gas reserves to 57.27 tcf in both offshore and onshore wells. Officials of Dodsal estimate that the reserve is worth US $6 billion dollars (about 12trl/-).
Apart from the new finding, gas reserves have as well been discovered in Songo Songo Island in Lindi Region, Mnazi Bay in Mtwara and Mkuranga in Coast Region. The country now boasts of 10 tcf of natural gas in the onshore while the large chunk of it, 47.08 tcf is in the Indian Ocean deep-sea.
This post first appeared HERE