There have been several gas discoveries on the coastal shore of the Indian Ocean at Songosongo, Mnazi Bay and Mkuranga in Coast Region. These discoveries are catalysts of natural gas developments in Tanzania. Currently, there are 22 Oil Companies undertaking exploration activities for oil and gas in the country. These companies include BG Group, Statoil, Petrobas, and Ophir Energy. Tanzania is becoming a regional hub after a flurry of discoveries, it is said to be blessed with over 41.7 trillion cubic feet of gas reserves at the latest estimates.
There are still numerous deep-sea blocks that are yet to be explored. Tanzania Petroleum Development Corporation (TPDC), the National Oil Company is inviting oil and gas companies and other specialized investors to participate in the exploration of hydrocarbons in Tanzania. Companies may apply for tendered out blocks for available blocks, successful companies will be invited to negotiate a Production Sharing Agreement (PSA).