THE Petroleum Upstream Regulatory Authority (PURA) is set to unveil new areas of oil and natural gas exploration and extraction inviting both local and foreign investors in the ventures.
The authority’s Director General, Eng. Charles Sangweni made the statement yesterday when speaking to reporters at the ongoing 48th Dar es Salaam International Trade Fair (DITF-2024).
According to him, by the end of this year or early next year, the authority will announce several areas for oil and gas exploration.
“We are actively seeking stakeholders to partner with the Tanzania Petroleum Development Corporation (TPDC) for oil and gas exploration. Any resources we discover will be developed to facilitate oil and gas production,” Sangweni stated.
He highlighted the global recognition of natural gas reserves in Songosongo and Mnazi Bay as pivotal energy sources.
“As the world is transitioning from petroleum to renewable energy by 2060, Tanzania aims to achieve 80 percent renewable energy usage by 2030, so PURA will invest heavily in effort to promote exploration activities,” Sangweni emphasized.
He said that the authority will continue research efforts to identify natural gas reserves suitable for household cooking and transportation, thereby reducing carbon dioxide emissions by shifting from charcoal and firewood.
“Natural gas from Songosongo and Mnazi Bay will serve as a transitional energy source as we move towards renewable energy,” Sangweni affirmed.
Preliminary research across Tanzania’s 947,000 square kilometres indicates promising signs of oil and gas deposits, with approximately 534,000 square kilometres showing strong potential which is nearly 50 percent.
“We have conducted extensive research in Southern coastal areas and Mtwara, extending up to 300 kilometres offshore," Sangweni added.
Meanwhile, Khalfan Khalfan, PURA’s Board Chair encouraged local investors to engage in exploration projects without waiting exclusively for foreign participation.
“The primary requirement here is expertise and capability. The government is committed to boosting investments in exploration, addressing historical gaps where some areas lacked investors or faced legal challenges resulting in project returns to the government,” Khalfan stated.
Furthermore, Khalfan highlighted ongoing efforts to attract investors to the Likongo natural gas project in Lindi Region, expressing optimism about its advancement.
He noted that a significant portion of the natural gas extracted from Likongo will be designated for international sales.
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