Statoil continues to increase gas reserves offshore Tanzania

Offshore staff

STAVANGER, Norway – Statoil has increased its estimate of in-place natural gas in block 2 offshore Tanzania to 20 tcf following the completion of the Piri-1 discovery well.

The new gas discovery was made in the same Lower Cretaceous sandstones as the Zafarani-1 discovery well drilled in 2012. The well location is 2 km (1¼ mi) southwest of the Lavani-1 well at 2,360 m (7,741 ft) of water.

Piri-1 was drilled by the drillship Discoverer Americas which now has moved to drill the Binzari prospect in block 2.

The Piri-1 discovery is the venture's sixth discovery in block 2. It was preceded by gas discoveries at Zafarani-1, Lavani-1, Tangawizi-1 and Mronge-1, and a discovery in Lavani-2.

“Additional prospectivity has been mapped and will be tested throughout 2014 and 2015. We expect to drill several additional exploration and appraisal wells and hope that the results from these wells will continue to add gas volumes for a future large-scale gas infrastructure development,” said Nick Maden, senior VP for Statoil’s exploration in the Western Hemisphere.

Statoil operates the licence on behalf of Tanzania Petroleum Development Corp. and has a 65% working interest. ExxonMobil Exploration and Production Tanzania holds the remaining 35%.

6/18/14

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