RE: Oil Shows at Ntorya 221 Jan 2022 13:21
Some big players including: BG Group (acquired by Royal Dutch Shell), along with Statoil, Exxon Mobil and Ophir Energy have made significant discoveries in Tanzania.
The nation’s total estimated recoverable natural gas reserves are more than 60 TCF. The Dodsal Group reported a 2.17TCF find on their onshore field at the Ruvuma Basin, which is near the commercial capital, Dar es Salaam. This was back in 2016 and following this discovery we saw ARA position for Aminex in 2017. Just connecting the dots, however we have another UAE player who wanted to farm into the license and fund exploration activity on an adjacent site.
East Africa is a hotspot for hydrocarbon exploration - substantial deposits of oil have been found in Uganda and major gas reserves discovered in neighbouring Tanzania and Mozambique.
I have been building my position for a number of years and it is pleasing to see us move closer to realising the potential of our acreage.