Statoil makes “high-impact” discovery offshore Tanzania

June 14, 2012 | Africa, Licensing & Concessions

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Norway’s Statoil says it has found another large gas deposit of the coast off  Tanzania, its second such discovery in the area so far this year and the seventh for the company over the last 14 months.

Statoil said Thursday that the Lavani well could hold some 3 trillion cubic feet of gas, or about half of the 6 trillion cubic feet believed to be in the huge Zafarani deposit discovered in February, and that lies 16 kilometers (10 miles) to the north.

The discovery further confirms the enormous potential of natural gas resources in East Africa, which could be crucial in supplying Asian markets in the future.

Statoil has a 65 percent interest in the Tanzanian fields, while ExxonMobil and Production Tanzania Ltd own the remaining 35 percent.