2.7 Trillion Cubic Ft (TCF) of gas deposits discovered in blocks in Ruvu basin in Coast Region licenced to The Dodsal Group
Biggest onshore gas discovery in Tanzania will drive economic growth & strengthen reliability of energy sector, says Dr. Rajen A. Kilachand, Chairman & President
Central location in Dubai enables The Dodsal Group to serve as a link between the clean energy resources in Africa and high-growth markets across the world
Dubai, UAE; March 28, 2016
The Dodsal Group, a Dubai-based business conglomerate currently operating in countries in MENA and East Africa region and India, has struck an expansive sweep of over 2.7 TCF natural gas deposits on their onshore concession in Tanzania for oil and gas exploration.
In July 2015, the Group had marked its first natural gas discovery in the country of 2.17 TCF in the Mambakofi and Mtini region. However, based on recent update of studies, this estimate has now been raised to 2.7 TCF with a potential upside of 3.8 TCF. Based on the current market prices, the gas resources is valued at US$8 billion to a potential upside of US$11 billion.
In addition, Dodsal's third well at Mbuyu has encountered a large gas column, in the western side of the block, which is estimated to contain upto 5.9 TCF of gas. Studies are ongoing to establish the prospective gas resources.
Having secured oil and gas concessions from the government following a production sharing agreement signed in 2007, the Dodsal Group is currently undertaking studies for prospective gas resources to be enhanced further, which could catalyze Tanzania's position as a leader in the natural gas sector in the East Africa region. The Group has already invested US$200 million to date, and plans to invest another US$300 million in Tanzania over the next 24 months to support its exploration and production activities, including implementation of an Early Production System to bring Gas to the market.
The country's biggest onshore gas discovery is located in the Ruvu Basin Coast Region, only 50km from the commercial capital city of Dar es Salaam, will contribute to increased reliability of clean energy resources in Tanzania, and drive all-round social and economic growth. With the new discovery, the nation's total estimated recoverable natural gas reserves total over 57 TCF.
Dr. Rajen A. Kilachand, Chairman and President of the Dodsal Group, said: "The discovery of natural gas reserves in Tanzania further strengthens our commitment to the nation to be a partner in the country's all-round socio-economic progress. Tanzania has tremendous potential in the hydrocarbon sector. When efficiently leveraged, this will bring incremental economic growth by assuring timely and ready supply of clean energy. We are fully committed to supporting the nation in this journey, underlined by the nine years of natural gas exploration that we have been undertaking."
He added: "As a socially responsible organisation, our focus is to bring in added value across all aspects of our operation and supporting Tanzania in stimulating the local economy, creating new jobs for the Tanzanian youth and driving the growth of small & medium enterprises by building a strong local supply chain. The significant discovery of natural gas, in close proximity to Dar es Salaam, will boost the economy and strengthen its all-round competitiveness."
With over 10,000 employees, the multi-billion dollar business conglomerate has proven competencies in other sectors including trading and distribution; and engineering, procurement & construction (EPC). As a leading EPC player in the energy, industrial and infrastructure sectors, The Dodsal Group has implemented projects in over 22 nations across the world.
About The Dodsal Group
Founded in Mumbai, India, in 1948, the Dodsal Group has transformed from a family trading enterprise into a multi-billion dollar organization under the leadership of Dr. Rajen A. Kilachand, its Chairman & President. The Dubai-based diversified multinational conglomerate operates in Trading and Distribution; Engineering, Procurement and Construction; and Exploration and Production.
Dodsal Resources is the holding company for the Group's hydrocarbon exploration, mining and production activities and has successfully secured concessions in East African nation. The Dodsal Group's venture into exploration and production has led to the discovery of deposits of multi-metals in Tanzania.
Dodsal Enterprises markets and distributes chemical and engineering products in India for more than 15 companies from 10 countries spanning North America, Europe and Asia. Dodsal Group is one of the leading EPC players in the energy, industrial and infrastructure sectors and has implemented projects in over 22 countries in the Middle East, Europe, Africa, the Indian Subcontinent and South-East Asia.
Dodsal Engineering and Construction Pte Limited carries out infrastructure development and management projects and has already implemented on a 'finance, build, operate and transfer' basis, pipeline projects in India and North Africa.
For more details, please contact:
Tom Drummond/Tameem Alkintar
Dubai, UAE; Tel: +971 4 450 7692
© Press Release 2016