A whopping US$ 274m is yet to be spent on gas exploration in Tanzania in the next 24 months by a Dubai based company, Dodsal Group.
Dr. Rajen Kilachand, chairman and president of the Dodsal Group confirmed the reports and said that the natural gas discovery in Tanzania strengthens their relationship.
“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,” Kilachand said.
According to a statement by Dodsal, they have so far made a tremendous development of discovering natural gas in the Ruvu Basin near Dar es Salaam which is estimated to contain over 2.7 trillion cu ft (TCF) of natural gas deposits with a value of US$ 8b to US$ 11m at current market prices.
They described the discovery as one of the biggest findings ever made in Tanzania and will definitely boost their total estimated recoverable natural gas reserves to more than 57 TCF. Most of their gas discoveries have thus far been made in deep-sea offshore blocks.
The Dubai based company also said that a third well at Mbuyu in Tanzania has found a large gas column which is projected to contain up to 5.9 TCF of gas where studies of the deposit are underway.
Tanzania has remarkable potential in the hydrocarbon sector. It will bring incremental economic growth by assuring timely and ready supply of clean energy when efficiently leveraged.
Dodsal Group’s focus is to bring in added value across all aspects of their operation. They support Tanzania in stimulating the local economy, creating new jobs for the citizens especially the youth and driving the growth of small & medium enterprises by building a strong local supply chain.