The Tanzanian Government will auction 26 petroleum exploration blocks through PURA to enhance investment in the oil and gas sector. Out of these, 23 are in the deep offshore Indian Ocean and three in Lake Tanganyika. The strategic locations offer potential for significant natural gas and oil discoveries, promoting further exploration and investment in the industry.
The Government of Tanzania is set to auction 26 petroleum exploration blocks through the Petroleum Upstream Regulatory Authority (PURA). This initiative aims to attract investments into the nation’s oil and gas sector, as announced by PURA’s Director General, Charles Sangweni, during the 11th East African Petroleum Conference and Exhibition (EAPCE’25) in Dar es Salaam.
Out of the 26 exploration blocks, 23 are situated in the deep offshore region of the Indian Ocean, while three are located in Lake Tanganyika. Sangweni emphasized that these blocks are strategically located, particularly in the deep offshore where a considerable amount of natural gas has already been discovered. Additionally, Lake Tanganyika lies within the East African Rift System, where neighboring countries like Kenya and Uganda have found oil in geologically similar basins.
PURA utilized the EAPCE’25 as a platform to promote the upcoming licensing round and investments in petroleum exploration in Tanzania. This effort highlights one of PURA’s core responsibilities in facilitating investment opportunities in the oil and gas industry.
In conclusion, the Government of Tanzania is auctioning 26 petroleum exploration blocks to foster investment within its oil and gas sector. The strategic positioning of these blocks, particularly in notable geological areas, suggests potential for significant discoveries. The initiative reflects PURA’s commitment to enhancing investment opportunities in this vital industry as demonstrated during the recent EAPCE’25.
Original Source: oilreviewafrica.com
