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Gold/Mining/Energy : TYK (VSE) Tanganyika Oil -- Ignore unavailable to you. Want to Upgrade?

To: Greywolf who wrote (307)	9/27/2000 7:16:58 AM
From: Tomas	Read Replies (1) \| Respond to of 500

Ten International Firms Willing to Explore Oil in Tanzania DAR ES SALAAM, Sept 26 (Africa News Service) - Over ten of the world's leading oil companies have shown interest to search for oil in Tanzania after a vigorous marketing of oil data bank in United States (US) and United Kingdom by the Ministry of Minerals and Energy last week. The Minister for Minerals and Energy, Dr. Abdallah Kigoda who arrived here from London over the weekend has said some of the leading oil companies in the world with operations in more than 100 countries are expected to carry out offshore oil exploration by April next year. He named some of the companies as the French tripple of TotalFinaElf, Texaco, Chevron, Sasoil and Mobil. Kigoda who was briefing the press on his business tour to market oil exploration in US and UK said that after launched the bidding process for the exploration of oil in deep-sea waters, the tenders would be opened on April 19, next year. He said the firms showed interest in the virgin Tanzania's offshore oil exploration sector after they bought the data at Texas and London forums. "We have given prospective firms up to April 19, 2001 to submit their tenders for buying oil exploration blocks," he explained. He said the marketing drive was in line with the national policy of attracting investors in the less tapped mineral sector as well as attracting funds to be used in carrying out further rocks studies to determine its oil potential. He said more than ten of the world's leading oil companies have bought the data from the seismic survey conducted by the Tanzania Petroleum Development Corporation and Westernmany oil reserves in different parts of Tanzania, the Minister told US investors in United States. The Minister left Dar Es Salaam on September 10 for Houston and London to launch the first Tanzanian offshore oil data. The launching proceeded by two seminars one in US and the other in UK. The delegation discussed with potential investors in the oil industry the petroleum geology of Tanzania with specific emphasis on the deep-sea area and regulatory and physical regime of oil exploration. Other things discussed were the terms and condition for license applications for exploration and other matters that are of interest to investors in the industry.