Dodsal Group strikes 2.7 tcf of gas
Massive discovery found on offshore concession in Tanzania
The Dodsal Group has struck reserves of over 2.7 trillion cubic feet (tcf) natural gas deposits on their onshore concession in Tanzania for oil and gas exploration.
In July 2015, the Group had marked its first natural gas discovery in the country of 2.17tcf in the Mambakofi and Mtini region.
However, based on recent update of studies, this estimate has now been raised to 2.7tcf with a potential upside of 3.8tcf.
Based on the current market prices, the gas resources is valued at $8bn to a potential upside of $11bn.
In addition, Dodsal’s third well at Mbuyu has encountered a large gas column, in the western side of the block, which is estimated to contain up to 5.9tcf of gas.
Studies are ongoing to establish the prospective gas resources.
Dr. Rajen A. Kilachand, chairman and president of the Dodsal Group, said: “The discovery of natural gas reserves in Tanzania further strengthens our commitment to the nation to be a partner in the country’s all-round socio-economic progress.
“Tanzania has tremendous potential in the hydrocarbon sector. When efficiently leveraged, this will bring incremental economic growth by assuring timely and ready supply of clean energy.
“We are fully committed to supporting the nation in this journey, underlined by the nine years of natural gas exploration that we have been undertaking.”