Tanzania’s government plans to auction 26 petroleum exploration blocks through PURA to attract investment in the oil and gas sector. The auction includes 23 deep offshore blocks and 3 in Lake Tanganyika, emphasizing strategic areas with discovered natural gas. PURA is promoting this initiative at the EAPCE’25 to enhance investment opportunities.
The Government of Tanzania plans to auction 26 petroleum exploration blocks via the Petroleum Upstream Regulatory Authority (PURA) to enhance investment in the country’s oil and gas sector. This announcement was made by the Director General of PURA, Charles Sangweni, during the 11th East African Petroleum Conference and Exhibition (EAPCE’25) held in Dar es Salaam.
Among the 26 exploration blocks, 23 are located in the deep offshore regions of the Indian Ocean while three are situated in Lake Tanganyika. Sangweni explained that these blocks are strategically positioned. The deep offshore area holds significant natural gas deposits, and Lake Tanganyika is part of the East African Rift System (EARS), where neighboring countries have successfully found oil in similarly structured basins.
PURA leveraged the EAPCE’25 as a crucial venue to promote the forthcoming licensing round as well as to foster investment in petroleum exploration blocks within Tanzania. This initiative aligns with the authority’s aims to increase investment and exploration in the petroleum sector of the nation.
In summary, Tanzania’s auction of 26 exploration blocks represents a significant initiative to attract investment into its oil and gas industry. The strategic locations of these blocks, particularly in high-potential areas like the deep offshore and Lake Tanganyika, underscore Tanzania’s commitment to harnessing its natural resources effectively. Efforts by PURA at the EAPCE’25 further highlight the importance of promoting this opportunity to potential investors.
Original Source: oilreviewafrica.com
