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Gold/Mining/Energy : TYK (VSE) Tanganyika Oil
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To: Tomas who wrote (300)8/24/2000 5:06:31 PM
From: Tomas  Read Replies (1) of 500
 
Several companies recently showed interest in exploration in Tanzania, including Dublin International Petroleum (Tanganyika Oil).

Tanzania Plans First Offshore Oil Licensing Round
LONDON, Aug 24 (Reuters) - Tanzania will hold roadshows in the United States and Britain in September to launch its first offshore exploration licensing round, leading oil services company Western Geophysical said on Thursday.

Tanzanian Energy Minister Abdallah Kigoda will open the seminars - jointly organised by Western Geophysical and the energy ministry - which are scheduled for September 14 in Houston and September 19 in London.

Western Geophysical said it shot 7,000 km of new seismics during 1999 and delineated the region into six license areas which form the basis of the first licensing round in the Pemba Basin.

A second round of seismic has also been collected which constitutes an additional 4300 km of 2-D seismics.

Tanzania is better known for its Songo Songo gas field, discovered in 1982 by Italian oil giant Agip. It holds reserves of one trillion cubic feet (tcf).

The project's operator, Canada's PanAfrican Energy Corp has said the project will start producing in early 2003 after nearly two decades of development.

Oil sources said oil discoveries in East Africa amounting to around five million barrels would be considered a reasonable find for that region.

They also said several companies recently showed interest in exploration in Tanzania, including Canada's Antrim Energy Inc. and Canop, Britain's Paladin, Ndovu Resources and Dublin International Petroleum.
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