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Tanzania’s gas reserves will increase by 500% in just the next two year, the energy ministry said in a statement.

It expects reserves to rise to 200 trillion cubic feet.

Offshore discoveries in Tanzania and neighboring Mozambique waters will be tapped for exports to Asia.

Sixteen international companies are licensed to explore for oil and gas in Tanzania.

Among them are BG, Statol, Petrobras, Shell, and Exxon.

Seven deep offshore blocks and one onshore block will be offered in October for oil and gas exploration.

source: RigZone