Statoil finds more gas offshore Tanzania

|About: Statoil ASA (STO)|By:, SA News Editor

Statoil (STO +0.3%) says it has found an additional 2T-3T cf of natural gas in its Piri-1 well offshore Tanzania, its sixth gas discovery at Block 2 and bringing total volumes in the drilling area to 20T cf.

STO operates the license on Block 2 on behalf of Tanzania Petroleum Development Corp. and has a 65% working interest; ExxonMobil holds the remaining 35%.