TPDC’s acting Managing Director, Engineer Kapuulya Musomba said in Dar es Salaam this week during ahead of a Tanzania Oil and Gas Conference that will take place in the commercial capital next week that new exploration blocks will be allocated next year after a lull of several years.
He named blocks that will open for grabbing as Block 4/1B, Mnazi Bay North Block, West Songo Songo Block and Dar-es Salaam Ring Main Project–City Gas Distribution Network.
“Right now we are looking for partners from different parts of the world who can share the risks with us in oil and gas exploration before commencing commercial production,” Musomba noted.
In order to take part in tender, bidders need to be body or entities or corporate registered under the Companies Act or any other written law with recognized capacity, technical knowledge and financial capability to operate in deep waters of up to 1,500 metres.
The TPDC chief added that the blocks oil and gas extraction should target to supply gas to local, regional and international markets while boosting government revenues but also allow the investor to recoup their capital plus profit.
The investors should also be able to foot the huge amount of capital required to meet the expensive exploration work which includes hiring a rid at USD 1m a day on average.
“We welcome investors to our oil and gas exploration blocks which have already proven to have substantial amounts of natural gas,” the TPDC acting Managing Director stated.
The country had by end 2017 discovered over 57 trillion cubic feet of natural gas following an additional 2.17 trillion cubic feet of deposits discovered by Dosdal Group of United Arab Emirates at Ruvu Basin in Coast Region.
Huge natural gas reserves have been discovered by international energy companies operating in southern regions of the country.