(MENAFN- The Arabian Post) |The Dodsal Group, a Dubai-based business conglomerate currently operating in countries in MENA and East Africa region and India, has struck an expansive sweep of gas resources on its onshore concession, valued at $8 billion as per current market prices, the company announced.
In July 2015, the Group had marked its first natural gas discovery in the country of 2.17 TCF in the Mambakofi and Mtini region. However, based on recent update of studies, this estimate has now been raised to 2.7 TCF with a potential upside of 3.8 TCF. In addition, Dodsal's third well at Mbuyu has encountered a large gas column, in the western side of the block, which is estimated to contain upto 5.9 TCF of gas. Studies are ongoing to establish the prospective gas resources.
Having secured oil and gas concessions from the government following a production sharing agreement signed in 2007, the Dodsal Group is currently undertaking studies for prospective gas resources to be enhanced further, which could catalyze Tanzania's position as a leader in the natural gas sector in the East Africa region. The Group has already invested US$200 million to date, and plans 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.
Dr. Rajen A. Kilachand, Chairman and President of the Dodsal Group, said Tanzania has tremendous potential in the hydrocarbon sector and when efficiently leveraged, this will bring incremental economic growth by assuring timely and ready supply of clean energy.
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