Statoil says that the Lavani-2 exploration and appraisal well has resulted in a new natural gas discovery offshore Tanzania.

The Statoil-operated Lavani-2 well successfully appraised the Lavani-1 discovery reservoir in the Palaeogene. When deepening the well to the second target, a separate and significant gas bearing reservoir in the Cretaceous was encountered.

Statoil and its co-venturer ExxonMobil Exploration and Production Tanzania Limited will announce updated total volumes in Block 2 next year. An increase in the upside potential of the Block is expected following further evaluations of the well. The Lavani-2 discovery is the venture's third discovery in 2012.

"These three discoveries continue to support our confidence in the Block 2 potential in Tanzania. The Lavani-2 well tested the deeper Saffron target and this new discovery looks promising," says Nick Maden, senior vice president in Exploration International in Statoil.

Tags: Statoil