Tanzania has announced plans to launch its fifth oil and gas licensing round in May, offering 26 exploration blocks for auction in a bid to attract new investments into the country’s energy sector.
According to Charles Sangweni, Director General of the Petroleum Upstream Regulatory Authority (PURA), 23 of the blocks are located offshore in the Indian Ocean, while the remaining three are in Lake Tanganyika.
First Licensing Round in Over a Decade
This marks Tanzania’s first oil and gas licensing round in more than ten years. Previous exploration efforts have resulted in the discovery of over 57 trillion cubic feet of natural gas, which now generates more than half of the country’s electricity supply.
Sangweni stated that the licensing round is set to be launched at the Africa Energy Summit in London in May, as such global events attract key investors in the oil and gas industry.
Progress on LNG Project Negotiations
The announcement comes as Tanzania’s government, under President Samia Suluhu Hassan, aims to finalize negotiations on a stalled $42 billion liquefied natural gas (LNG) project by June.
Major energy companies involved in Tanzania’s LNG sector include Equinor, Shell, Exxon Mobil, Pavilion Energy, Medco Energi, and the Tanzania Petroleum Development Corporation (TPDC).