Dubai based Dodsal Resources has said it will to invest another US$300 million in Tanzania over the next 24 months to support its exploration and production activities, including implementation of an Early Production System to bring Gas to the market.
This will be the single largest investment by the company that has to date invested US$200 million.
The company that has so far made the largest onshore gas discovery in Tanzania’s Mambakofi and Mtini region adds that it is carrying on with studies to establish the prospective gas resources at the third well at Mbuyu in the western side of the block, which is estimated to contain upto 5.9 TCF of gas in a large gas column.
According to Dodsal based on the current market prices, the gas resources so far discovered is valued at US$8 billion to a potential upside of US$11 billion.
“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,” said Chairman and President of The Dodsal Group Dr. Rajen A. Kilachand.
Dodsal hopes that the close proximity of the discoveries to to Dar es Salaam (approximately 50Km) will boost Tanzania’s economy and strengthen its all round competitiveness.
The new discoveries Tanzania’s total estimated recoverable natural gas reserves total over 57 TCF.