Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Tanzania’s Natural Gas Reserves Almost Triple on New Finds

June 20 (Bloomberg) -- Tanzania’s total estimated natural gas reserves almost tripled to as much as 28.7 trillion cubic feet with recent offshore discoveries including one by Statoil ASA, Energy Minister Sospeter Muhongo said.

The energy ministry plans to submit a draft natural gas policy and propose legislative amendments in September, the minister said in an e-mailed statement yesterday. The ministry estimated total reserves at 10 trillion cubic feet in September.

“It is important to ensure that this pace of oil and gas exploration continues,” Muhongo said.

Tanzania and Mozambique have discovered about 100 trillion cubic feet of gas, almost enough to meet global demand for a year, as the world’s biggest explorers have poured into East Africa to search for hydrocarbons and finds have increased in Kenya and Uganda.

Recent finds off Tanzania’s Indian Ocean coast brought recoverable offshore reserves to 21 trillion cubic feet, while onshore fields were estimated at 4.27 trillion cubic feet to 7.77 trillion cubic feet, the ministry said in the statement.

Statoil, Norway’s largest oil and gas producer, on June 14 said it made a second “high-impact" gas find off Tanzania’s Indian Ocean coast.

BG Group Plc and Ophir Energy Plc in May said they discovered more gas off Tanzania, about 45 kilometers (28 miles) north of the maritime border with Mozambique, where explorers have made the largest gas discoveries of the decade.

To contact the reporter on this story: David Malingha Doya in Dar es Salaam at dmalingha@bloomberg.net

To contact the editor responsible for this story: Bryson Hull at bhull5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.