Dubai-based group Dodsal has recently announced the discovery of over 2.7 TCF of natural gas deposits on its onshore concession in Ruvu basin in Tanzania’s coast region, 50km from the commercial capital city of Dar es Salaam.
In July 2015, the Group had marked its first natural gas discovery in Tanzania of 2.17 TCF in the Mambakofi and Mtini region.
However, based on recent update of studies, this estimate has now been raised to 2.7 TCF with a potential upside of 3.8 TCF.
Based on the current market prices, the gas resources is valued at USD 8 billion to a potential upside of USD 11 billion, Dodsal estimates.
In addition, Dodsal has encountered a large gas column at well at Mbuyu in the western side of the block, which is estimated to contain up to 5.9 TCF of gas. Studies are ongoing to establish the prospective gas resources.
The Dodsal Group has already invested USD 200 million to date in Tanzania, and plans to invest another USD 300 million over the next 2 years in exploration and production activities.
Dr. Rajen A. Kilachand, Chairman and President of The Dodsal Group, said: “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. The significant discovery of natural gas, in close proximity to Dar es Salaam, will boost the economy and strengthen its all round competitiveness.”
With this latest discovery, Tanzania’s total estimated recoverable natural gas reserves reach 57 TCF in Q1 2016.
Dodsal Group is a business conglomerate operating in trading and distribution, engineering, procurement and construction and exploration and production in countries in the Middle East, North Africa, East Africa and India.
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