Dodsal Group, a Dubai-based business conglomerate has struck an expansive sweep of over 2.7 TCF natural gas deposits on their onshore concession in Tanzania for oil and gas exploration.
Based on the current market prices, the gas resources is valued at $8bn to a potential upside of $11bn.
The Group had marked its first natural gas discovery in July 2015 at Mambakofi and Mtini region.
Having secured oil and gas concessions from the government following a production sharing agreement signed in 2007, the Dodsal Group is currently undertaking studies for prospective gas resources to be enhanced further, which could catalyze Tanzania’s position as a leader in the natural gas sector in the East Africa region.
The country’s biggest onshore gas discovery is located in the Ruvu Basin Coast Region, with the new discovery, the nation’s total estimated recoverable natural gas reserves total over 57 TCF.
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.”