Tanzania Uncovers More Additional New Natural Gas Reserves

By International Business Times,  June 18, 2012, 08:22:23 AM EDT

Tanzania has uncovered new additional reserves of natural gas off its Lindi coast, the country's Minister for Energy and Minerals Sospeter Mohongo announced over the weekend.

The well, discovered by Norwegian firm Statoil in collaboration with U.S. firm Exxon Mobil, holds an estimated 3 trillion cubic feet of natural gas.

"This is a big discovery. I am happy to tell you that the country is now having big reserves of natural gas," Mr Muhongo was quoted as saying by Tanzania's Daily News.

Read More on International Business Times




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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