The Dubai-based Dodsal Group has made a major natural gas discovery in Tanzania and plans to invest an additional $300 million in the country over the next 24 months to support exploration and production there, it said on Monday.
The discovery in the Ruvu Basin near Dar es Salaam is estimated to contain over 2.7 trillion cubic feet (TCF) of natural gas deposits with a value of $8 billion to $11 billion at current market prices, Dodsal said.
The company described the find as Tanzania's biggest onshore gas discovery, saying it would boost the nation’s total estimated recoverable natural gas reserves to more than 57 TCF. Most of Tanzania's gas discoveries have so far been made in deep-sea offshore blocks.
In addition, a third Dodsal well at Mbuyu in Tanzania has found a large gas column which is estimated to contain up to 5.9 TCF of gas, the company said, adding that studies of the deposit were underway.