Friday 24 February 2012

Statoil and Exxon make big discovery

Statoil have become the latest company to announce findings of natural gas off the coast of East Africa. The Norwegian firm and their partners ExxonMobil say they made a large gas discovery off the coast of Tanzania in their first exploration well in Block 2.

The discovery is Statoil's first in East Africa. The firm say it has encountered 120 metres of excellent quality reservoir with high porosity and high permeability. Yona Killaghane, Managing Director of Tanzania Petroleum Development Corporation said: "This discovery could potentially be a catalyst for large scale natural gas developments in Tanzania."