India’s state-owned Oil and Natural Gas Corporation (ONGC) is likely to bid in Tanzania’s upcoming frontier licensing round due to take place in October.
According to India’s Commerce Ministry, the company’s overseas arm ONGC Videsh will join bidders competing for a total of eight blocks up for grabs, seven in deepwater and one onshore. Bidding is set to get underway on 25 October.
India’s Minister of State for Commerce, Daggubati Purandeswari, and her Tanzanian counterpart Abdallah Kigoda discussed the round during bilateral talks in Dar-es-Salaam.
Tanzania resumed the launch of its fourth licensing round earlier this year (see DI, 20 May, 2013, page 4), offering seven deepwater blocks.
The Tanzanian government, via state-owned Tanzania Petroleum Development Corp. (TPDC), will formally launch the Tanzania Deep Offshore and North Lake Tanganyika Licensing Round on 25 October. The round will close on 15 May, 2014.
The seven deepwater blocks will each cover an average of 3,000 sq km (1,158 sq miles), in water depths ranging from 2,000-3,000 m (6,562-9,843 ft). The featured blocks are: 4/2A, 4/3A, 4/3B, 4/4A, 4/4B, 4/5A and 4/5B. A further two blocks will be reserved for the government (4/1B and 4/1C), where TPDC will be allowed to execute a different exploration approach using a strategic partner to be competitively sourced.
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