By Dow Jones Business News,
By Dominic Chopping
Norwegian oil major Statoil ASA ( STO ) Wednesday announced it has found a further two to three trillion cubic feet (tcf) of natural gas in its Piri-1 well offshore Tanzania.
The discovery brings total volumes in the Block 2 drilling area to 20 tcf.
Further exploration and appraisal wells will be drilled in the area throughout 2014 and 2015.
Statoil operates the licence on Block 2 on behalf of Tanzania Petroleum Development Corporation (TPDC) and has a 65% working interest. ExxonMobil Exploration and Production Tanzania Limited holds the remaining 35%.
Read more: http://www.nasdaq.com/article/statoil-finds-further-23-trillion-cubic-feet-of-gas-offshore-tanzania-20140618-00091#ixzz34zQ8AMkz
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