Tanzania’s PURA to Auction 26 Petroleum Exploration Blocks

Tanzania’s Government plans to auction 26 petroleum exploration blocks to increase investment in the oil and gas sector, as stated by PURA’s Director General, Charles Sangweni, during EAPCE’25. The blocks are strategically located, with 23 offshore and three in Lake Tanganyika, which may enhance investment opportunities.

The Government of Tanzania is set to auction 26 petroleum exploration blocks through the Petroleum Upstream Regulatory Authority (PURA) to stimulate investment within the country’s oil and gas sector. This announcement was made 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 26 blocks being auctioned, 23 are situated in the deep offshore region of the Indian Ocean, while the remaining three are located in Lake Tanganyika. Sangweni emphasized that these blocks are strategically located, particularly in regions where significant natural gas reserves have already been found, as well as in Lake Tanganyika, which lies within the East African Rift System (EARS). This area has seen neighboring countries such as Kenya and Uganda discovering oil in similar geological settings.

PURA leveraged the platform of EAPCE’25 to promote the upcoming licensing round and attract investments in the petroleum exploration blocks, which aligns with its core responsibilities.

In summary, Tanzania’s Government, via PURA, aims to auction 26 petroleum exploration blocks—23 offshore and three in Lake Tanganyika—seeking to enhance investment in the oil and gas industry. The strategic location of these blocks is anticipated to bolster investment prospects, drawing from existing discoveries in neighboring countries.

Original Source: oilreviewafrica.com