Statoil to construct its ‘largest-ever’ project off Tanzania / News / The Foreigner

Statoil to construct its ‘largest-ever’ project off Tanzania. Norwegian energy giant Statoil is preparing a gas development with an estimated cost of NOK 100 billion. It has never built this size of project before, reports say. Statoil first struck gas off the Tanzanian coast in 2012. Last month, the company announced its Tangawizi 1 well discovery. This is the third major one Statoil has made in the course of the year, bringing total reserves up to between 420 billion and 480 standard cubic metres,

statoil, gastanzania



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Statoil to construct its ‘largest-ever’ project off Tanzania

Published on Friday, 5th April, 2013 at 13:43 under the news category, by Asgeir Ueland.
Last Updated on 5th April 2013 at 22:36.

Norwegian energy giant Statoil is preparing a gas development with an estimated cost of NOK 100 billion. It has never built this size of project before, reports say.

New Identity, Statoil
New Identity, Statoil
Photo: Øyvind Hagen/Statoil


Statoil first struck gas off the Tanzanian coast in 2012. Last month, the company announced its Tangawizi 1 well discovery.

This is the third major one Statoil has made in the course of the year, bringing total reserves up to between 420 billion and 480 standard cubic metres,

Zafarani 1 and Lavani 1 are the two other discoveries. A fourth has been made in the Lavani 2 well, Stavanger Aftenblad reported.

The East African country’s waters have become a new hotspot for gas surveys over the last few years.

This is mainly due to advances in subsea technology that make it possible to drill for gas at depths of over 2,000 meters (almost 6,265 feet).

The aim of this Tanzanian project is to develop a facility that can produce Liquefied natural gas (LNG), according to economy news website NA24.

Head of the project to Erik Holtar says Statoil has yet to make the final decision regarding development of the fields, situated on the central and southern shores of the East African country.

He believes that it is only a matter of time before the company gives it the green light, however.

At the same time, the project has still to overcome some pressing issues. The gas wells will be the deepest ever-drilled. Some of them are put at about 2,500 metres (just over 8,202 feet).  

Tanzania is also a relatively poor country today, with 37 per cent of the population living on less than USD 2 a day.

Moreover, Atlantic Monthly reported a few years ago that onshore Tanzania has seen increasing development from the Chinese, in addition to increasing related which could pose a future challenge.

Statoil, which currently has 25 employees working at its Dar es Salaam office, is cooperating with ExxonMobil on the new ‘super-project’.



Published on Friday, 5th April, 2013 at 13:43 under the news category, by Asgeir Ueland.
Last updated on 5th April 2013 at 22:36.

This post has the following tags: statoil, gastanzania.





  
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