Another high impact gas discovery in Tanzania

Statoil (OSE: STL, NYSE:STO) as the operator and its partner ExxonMobil announced a large gas discovery in Block 2 license in Tanzania. The Lavani well confirms a new high impact discovery with preliminary resource estimate of 2 trillion cubic feet of gas in place from the 95 metres of excellent quality reservoir sandstone met by the well. The discovery lies a mere 16 kilometres south of the Zafarani discovery announced earlier. The Zafarani resources were simultaneously upgraded by 1 Tcf to 6 trillion cubic feet of gas in total.