A Bermuda registered oil and gas exploration company with strong British links, Dominion Petroleum, has confirmed that its Deep Water Block 7 in the south east of Tanzania’s territorial waters contains “a mean prospective resource of 1.1 billion barrels (Bbbl) ‘as the oil case’, and 7 trillion cubic feet of (Tcf) gas.”
The oil firm confirmed the prospective resource for its Tanzania offshore block on Monday.
A Competent Persons Report (CPR) on the wholly owned Tanzania Deep Water Block 7 confirmed a mean prospective resource of 1.1 billion barrels as the oil case, and 7 trillion cubic feet of (Tcf) gas, the company’s Chief Executive Officer, Andrew Cochran was quoted in London as saying.
The results should help the company re-assess volumes and improve the Chances of Success (CoS), not only for the Alpha prospect, but for all prospects mapped within, and immediately adjacent to, the survey area. Read Full story from source
Could this be the start of a new reign?
I really do hope this does us good other than being 'Shamba la bibi'as we have always been on our natural resources.Seriously though, because i see the future already some more European countries digging up the oil and we getting...more little than we should. sad, when you think about makes me damn mad, but the same has been done to most minerals found in the country so i wouldnt be surprised if so happened to the oil found in Tanzania. One always thinks, if theres oil in that country, soon its gonna be rich, but nooooo...where are our extraction companies? They will soon be called unworthy and some investors will bring in their own extraction companies and Movie inaanzia hapo..Dah, hope it doesnt go that way tho. I'm not being negative, I'm being realistic.Lets cross our fingers that the recently discovered oil and Gas results in only further development and not further exploitation.
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