By Dominic Chopping
Norwegian oil and gas major Statoil ASA (STO) said Monday that
with co-venturer ExxonMobil () they have successfully tested the
Tanzania Block 2 offshore discoveries.
MAIN FACTS:
-The Zafarani-2 operation tested two separate intervals and
flowed at a maximum of 66 million standard cubic feet of gas per
day, constrained by equipment, and confirmed good reservoir quality
and connectivity.
-"The ongoing appraisal programme is crucial to firm up the
design and development basis for bringing gas to shore and a first
phase onshore LNG project in Tanzania," says Oystein Michelsen,
Statoil's Tanzania country manager.
-"We are now working constructively with our co-venturer
ExxonMobil, Blocks 1, 3 & 4 and the Tanzanian authorities to
progress the plans for a joint LNG plant development."
-The production well rate potentials are estimated to be higher
than the equipment constrained rates obtained during the test.
-The Zafarani-2 operation will be followed by the appraisal well
Zafarani-3.
-Statoil operates the licence on Block 2 on behalf of Tanzania
Petroleum Development Corporation (TPDC) and has a 65% working
interest, with ExxonMobil Exploration and Production Tanzania
Limited holding the remaining 35%.
-At 0844 GMT shares traded 2.8% higher at NOK162.80.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
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