The government raised its estimate after huge recent discoveries in the east African country’s deep-water offshore region.
Tanzania Energy and Minerals Minister Sospeter Muhongo said the recoverable gas reserves are estimated at 20.97 tcf offshore and 4.27-7.77 tcf onshore.
"Deep-water offshore oil and gas exploration is a very expensive undertaking… It is important to ensure this gas and oil exploration momentum continues, and the government will give a bigger push for companies to proceed," Muhongo said.
The minister said the latest gas reserve estimates take into account last week’s discovery by Norwegian oil firm Statoil and ExxonMobil of a big gas deposit off Tanzania at the Lavani well with an estimated 3 tcf of gas.
The discovery confirms East Africa’s status as one of the world’s fastest-growing gas hubs.
The U.S. Geological Survey estimating that 253 tcf may lie off Tanzania, Kenya and Mozambique, relatively close to Asia’s lucrative liquefied natural gas markets.
