Fourth Round of Oil and Gas Bidding in Tanzania Set for 25 October

The Tanzania Petroleum Development Corporation (TPDC) will launch its fourth round of oil and gas exploration licensing at the Second Tanzanian Oil and Gas Conference on October 25th at the Julies Nyerere International Convention Center in Dar es Salaaam.

The bidding will remain open until May 2014, and will include the Deep Sea Offshore Blocks (2,000 to 3,000 meters deep in the Indian Ocean) and the Lake Tanganyika North Offshore Block (1,500 meters deep).

Bid Round Data Packages can be purchased ($750,000) in London and Houston immediately following the launch.

A detailed, technical analysis is required for each bid, and bids will assessed, after 15 May 2014, based on their financial and technical feasibility.

Two additional blocks in the Indian Ocean will be reserved for TPDC to carry out an alternative exploration approach with a competitively selected partner.

In addition to opening the auction, the conference will also host sessions covering a number of topics including challenges and prospects of the oil and gas industry, sustainable exploration, legal and regulatory framework, and taxation and finance.

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