Statoil makes third gas find

Statoil had made another fresh gas find, offshore of Tanzania, it said yesterday. Tim Dodson, Statoil’s exploration chief, said this brought the Norwegian group closer to having the resources to justify a liquefied natural gas (LNG) project that would export the fuel from east Africa. Statoil said its third major discovery in the region within a year adds 4 to 6 trillion cubic feet (tcf) of gas in place. “Recoverable gas volumes in the range of 10 to 13 tcf brings further robustness to a future decision on a potential LNG project,” Dodson said. – Reuters