Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/boats/artumas-gets-tanzanian-gas-go-ahead.shtmlArtumas gets Tanzanian gas go-ahead
The government of Tanzania has approved Calgary-based Artumas’ application to export compressed natural gas, or CNG, by sea to “off-take” buyers in ...
The government of Tanzania has approved Calgary-based Artumas’ application to export compressed natural gas, or CNG, by sea to “off-take” buyers in Mobassa Kenya, a major breakthrough for the company and perhaps for others plying East Africa’s “untouched” Rovuma Basin.
Artumas can now negotiate long-term gas sales plus shipping agreements.
The permission also promises future sales of gas beyond volumes the oil company had allotted to electricity generation for local Tanzanians. The new earnings make it expedient to drill on and around the company’s producing Mnazi Bay concession, and drilling is now planned for late-2008.
“These events set the stage for the company to reach substantial cash-flow before 2011,” a statement said.
The company made a splash when it appeared in Scandinavian Oil-Gas Magazine last year in an article called The Last Basin.
Back then, export capacity restricted sales of the vast volumes of local gas, and the company had been working with the Tanzanian Petroleum Development Corp. to balance local and national interests.