President of China
JF-Expert Member
- Dec 6, 2018
- 34,608
- 94,196
UPDATE on the Mnazi Bay Gas Project Deal
👉 The Petroleum Upstream Regulatory Authority (PURA) approved an $80.2m (218bn/-) drilling project with Maurel et Prom (M&P) to begin drilling three natural gas wells at Mnazi Bay, Mtwara, early next year.
👉 Two wells (MB5 and MS2) will begin production, while one (Kasa) is in the exploratory stage.
👉 The environmental impact assessment is complete, and compensation for affected people will start soon.
👉 Mnazi Bay supplies 48% of the gas for Tanzania’s electricity, with 641 billion cubic feet of recoverable gas and 120 million cubic feet produced daily.
👉 French firm Maurel et Prom holds a 60% stake, while TPDC retains 40%.
👉 As we all remember, in February 2024, TPDC paid Maurel et Prom USD 23.6 million using its internal revenues to acquire the interest.
👉 The Petroleum Upstream Regulatory Authority (PURA) approved an $80.2m (218bn/-) drilling project with Maurel et Prom (M&P) to begin drilling three natural gas wells at Mnazi Bay, Mtwara, early next year.
👉 Two wells (MB5 and MS2) will begin production, while one (Kasa) is in the exploratory stage.
👉 The environmental impact assessment is complete, and compensation for affected people will start soon.
👉 Mnazi Bay supplies 48% of the gas for Tanzania’s electricity, with 641 billion cubic feet of recoverable gas and 120 million cubic feet produced daily.
👉 French firm Maurel et Prom holds a 60% stake, while TPDC retains 40%.
👉 As we all remember, in February 2024, TPDC paid Maurel et Prom USD 23.6 million using its internal revenues to acquire the interest.