Tanzania Plans Fifth Oil, Gas Licensing Round in May

Tanzania is set to launch its fifth oil and gas licensing round in May, marking the first such initiative in over a decade. The round will offer 26 exploration blocks, with 23 located offshore in the Indian Ocean and three in Lake Tanganyika. The government aims to kick off this bidding process during the Africa Energy Summit in London, with officials stating that all necessary data has been prepared. Tanzania is believed to have substantial natural gas reserves estimated at 57 trillion cubic feet, which have previously been used for electricity generation. Additionally, the country is negotiating a stalled $42 billion LNG project, with hopes to finalize agreements with major investors by June. The last licensing round occurred in May 2014, highlighting the significance of this upcoming auction for attracting investment in the hydrocarbons sector.