Statoil operated high impact gas discovery off Tanzania
(Thomson Reuters ONE) -
Statoil (OSE:STL, NYSE:STO) and partner ExxonMobil have made a large gas
discovery offshore Tanzania in the first exploration well in Block 2.
Statoil announced on February 17 that the partnership had encountered
indications of natural gas in the Zafarani exploration well in the Block 2
licence offshore Tanzania. The logging results now show that the discovery is a
high impact discovery, so far proving up to 5 Tcf of gas in-place.
The well has encountered 120 metres of excellent quality reservoir with high
porosity and high permeability. The gas-water contact has not been established
and drilling operations are on-going.
"This discovery is the first Statoil operated discovery in East Africa and an
important event for the future development of the Tanzanian gas industry. It is
also a demonstration of how Statoil's exploration strategy of early access and
high impact opportunities strongly supports the company's ambition for
international growth," says Tim Dodson, executive vice president for Exploration
in Statoil.
"This discovery could potentially be a catalyst for large scale natural gas
developments in Tanzania," says Yona Killaghane, Managing Director of Tanzania
Petroleum Development Corporation (TPDC).
Earlier this week the partnership signed an addendum to the production sharing
agreement for Block 2 which stipulates the commercial terms in case of a
development of natural gas resources in the block with the Tanzanian
authorities.
The Zafarani discovery is the fifth high impact discovery made by Statoil in the
last 12 months, with the other discoveries being Skrugard and Havis in the
Barents Sea, Johan Sverdrup (former Aldous/Avaldsnes) in the North Sea and
Peregrino South in Brazil.
Statoil operates the licence on Block 2 on behalf of TPDC and has a 65% working
interest with ExxonMobil Exploration and Production Tanzania Ltd. holding the
remaining 35%. Statoil has been in Tanzania since 2007 when it was awarded the
licence for Block 2. TPDC has the right to a 10% working interest in case of a
development phase.
Zafarani is the first exploration well that has been drilled in the licence
which covers an area of approximately 5,500 square kilometres. The water depth
at the well location is 2,582 metres and the well itself will be drilled to
reach an expected total depth of around 5,100 metres.
The drillship, Ocean Rig Poseidon, will after completing the drilling activities
at Zafarani move to drill a second well in Block 2 on the Lavani prospect.
For more information, please contact:
Investor relations
Lars Valdresbråten, investor relations officer
Tel: +47 402 81 789
Morten Sven Johannessen, vice president, investor relations North America,
Tel +1 203 570 2524 (mobile)
Media relations
Bård Glad Pedersen, press spokesperson,
Tel +47 91 80 17 91
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Statoil via Thomson Reuters ONE
[HUG#1588743]
Unternehmensinformation / Kurzprofil:
Datum: 24.02.2012 - 07:58 Uhr
Sprache: Deutsch
News-ID 118204
Anzahl Zeichen: 3868
contact information:
Town:
Stavanger
Kategorie:
Business News
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"Statoil operated high impact gas discovery off Tanzania"
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