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Tanzania Plans First Oil Licensing Round In Decade

ENERGY

Tanzania plans to offer onshore and offshore oil blocks for exploration early next year in the first licensing round since 2013 according to Bloomberg.

  • Progress on a long-delayed LNG project could increase investor interest in the upcoming oil and gas licensing round according to Charles Sangweni of Tanzania’s Petroleum Upstream Regulatory Authority. The government will update the production sharing agreement model to make the sale more attractive, he added.
  • Following major negotiations with a consortium finished last week, key agreements for the LNG export project are expected to follow.
  • Tanzania has recoverable natural gas reserves of more than 57tcf according to its energy ministry.
Energy BulletsCommodities
Energy BulletsCommodities

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