Petroleum Africa
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Monday, October 27, 2014
The evaluation period is nearing an end for Tanzania’s latest licensing round. The government is said to be in the final stages of evaluating the bids and winners are due to be announced prior to year end.
“The evaluation of bids is in the final stages and the results of this ongoing process will be made public when concluded,” James Andilile, acting managing director of the state-run TPDC, told Reuters. “Winners of the successful bids should be announced this year.”
The East African country offered up eight oil and gas blocks for auction earlier this year, four of the eight blocks received bids and the government is reviewing the five bids received. Some of the companies that submitted bids include CNOOC, ExxonMobil, Gazprom, Mubadala, RAK Gas, and Statoil.
Those companies who are awarded blocks in this licensing round will be the first to sign agreements that fall under Tanzania’s new hydrocarbon laws, which according to industry experts are a bit more stringent than the country’s previous terms.
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