Statoil Discovers More Gas Offshore Tanzania

Statoil Discovers More Gas Offshore Tanzania
Statoil makes another natural gas discovery in Block 2 offshore Tanzania, boosting gas volumes by 1 to 1.8 trillion cubic feet of gas, the company says.


OSLO, March 30 (Reuters) - Norwegian energy firm Statoil has made another natural gas discovery in Block 2 offshore Tanzania, boosting gas volumes by 1.0-1.8 trillion cubic feet of gas (28.5-51.3 billion cubic metres) the company said on Monday.

That brings the total discovered gas volumes in Block 2 to approximately 22 trillion cubic feet, it added.

The company believes more discoveries can be made in the area, but said it will now concentrate on appraising one of its previous seven discoveries. Following this, there will be a pause in drilling "to evaluate next steps and to mature new prospects", Statoil said.

The company has said it may build a liquefaction plant with Britain's BG Group, which operates neighbouring exploration blocks.

Unlike the previous discoveries in the block, where ExxonMobil participated with a 35 percent stake, Statoil said it had paid 100 percent of the cost for the latest well.

(Reporting by Terje Solsvik; editing by Jason Neely)

Copyright 2016 Thomson Reuters. Click for Restrictions.


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