Norwegian oil company Statoil ASA (STO) and partner
ExxonMobil Corp. (XOM) Friday confirmed that the Zafarani-1 well in Block 2
offshore Tanzania has encountered indications of natural gas in a good quality
reservoir.
MAIN FACTS:
-Drilling
operations are still ongoing and it is too early to give any indication of size
and commerciality.
-The well was spudded in early January 2012 and drilling operations are
expected to take up to a total of 3 months to complete.
-The well is being drilled by the drill ship Ocean Rig Poseidon and is located
some 80 kilometres off mainland
Tanzania
.
-Statoil operates the licence on Block 2 on behalf of Tanzania Petroleum
Development Corporation (TPDC) and has a 65% working interest with ExxonMobil
Exploration and Production Tanzania Ltd. holding the remaining 35%.
-The final assessment of what has been encountered will be released at a later
stage once drilling operations have been completed and the well results fully
analysed.
-At 1143
GMT shares traded 1% lower at NOK155.30.