Cnooc, Gazprom eye Tanzania oil and gas blocks

|By:, SA News Editor

Cnooc (CEO) and Gazprom (OGZPY) appear to be the front-runners among international companies that have submitted bids to develop Tanzania's lucrative gas and oil blocks.

Cnooc, which is already developing the kingfisher oil field in neighboring Uganda, will compete with Statoil (STO) and Exxon Mobil (XOM) for block 4/3A off Tanzania's southern coast; Gazprom is the sole bidder for block 4/3B.

STO and XOM already have teamed up in several discoveries in Tanzania, and STO and BG Group (BRGYY, BRGXF) are planning to build the first liquefied natural gas plant in the country.