Tanzania to Auction 26 Petroleum Exploration Blocks to Boost Investment

The Tanzanian Government is set to auction 26 petroleum exploration blocks, with 23 in the Indian Ocean and three in Lake Tanganyika. This initiative, discussed by PURA’s Director General Charles Sangweni at EAPCE’25, aims to enhance investment in the oil and gas industry, emphasizing the strategic locations of the blocks related to prior resource discoveries.

The Tanzanian Government intends to auction 26 petroleum exploration blocks via the Petroleum Upstream Regulatory Authority (PURA). This initiative aims to increase investment in the nation’s oil and gas sector, as announced by PURA’s Director General, Charles Sangweni, during the 11th East African Petroleum Conference and Exhibition (EAPCE’25) in Dar es Salaam.

Out of the total 26 blocks, 23 are situated in the deep offshore region of the Indian Ocean, while three are located in Lake Tanganyika. Sangweni highlighted the strategic significance of these blocks, noting that the offshore area has previously shown substantial natural gas discoveries. Additionally, Lake Tanganyika is part of the East African Rift System (EARS), where oil has been found in neighboring Kenya and Uganda due to similar geological formations.

PURA effectively utilized the EAPCE’25 as a platform to promote the imminent licensing round and encourage investments into petroleum exploration within Tanzania, fulfilling one of its central mandates.

The Government of Tanzania, through PURA, is actively seeking to attract investments in the oil and gas sector by auctioning 26 strategically located exploration blocks. This initiative underscores the potential for significant natural resources in both the Indian Ocean and Lake Tanganyika, particularly adjacent to areas with existing oil discoveries. PURA’s efforts at the EAPCE’25 conference demonstrate a commitment to fostering investment in the country’s petroleum sector.

Original Source: oilreviewafrica.com