I found this, not sure if it is the article mentioned below: Africa Review|Daily Nation|Business Daily|NTV|Daily Monitor|The Citizen|Mwananchi|Swahili Hub HOME Login GO News Business Opinion and Editorial Magazine Rwanda MBA HomeBusiness BUSINESS Pipeline ready to transport gas to Dar, say officials SHARE BOOKMARKPRINTRATING The entire pipeline has a capacity of 784 MMBTU, which will be raised to 1,002 MMSCFD in future. FILE | TEA Graphic By KENNEDY SENELWA Posted Saturday, December 13 2014 at 13:14 IN SUMMARY The $1.2 billion Mtwara-Dar es Salaam pipeline was begun in July 2012, with a loan from the Export-Import Bank of China meeting 95 per cent of the cost. The entire pipeline has a capacity of 784 MMBTU, which will be raised to 1,002 MMSCFD in future. SHARE THIS STORY 0 inShare The Tanzanian government has announced that it will begin using the new 517km pipeline to transport natural gas from Mtwara to Dar es Salaam in January. The Tanzania Petroleum Development Corporation (TPDC) has submitted to the Energy Water Regulatory Authority (Ewura) a proposal to charge $4.178 as the tariff for a million metric British thermal units (MMBTU) of gas. TPDC wants Ewura to grant regulatory approval for the fee applicable to consumers in power generation, industrial use, vehicles, households and institutions from January 1, 2015 to December 31, 2017. TPDC is finalising the construction of two plants at Madimba in Mtwara and Songo Songo Island in Lindi region with a gas pipeline from Mtwara through Somanga Fungu to Dar es Salaam. “The planned commercial operations start date is January 15, 2015,†said TPDC director of marketing and investments Joyce Kisamo. She added that an appropriate tariff is the only option to help service loans and recover capital costs. The $1.2 billion Mtwara-Dar es Salaam pipeline was begun in July 2012, with a loan from the Export-Import Bank of China meeting 95 per cent of the cost. The China Petroleum and Technology Development Company was awarded the contract to construct the pipeline. READ: Tanzania tops in foreign investments into the region The Madimba village plant has two processing units, each with a capacity of 70 million standard cubic feet per day (MMSCFD) of gas and the Songo Songo Island plant has two units of 70 MMSCFD. The entire pipeline has a capacity of 784 MMBTU, which will be raised to 1,002 MMSCFD in future.
It is a great move by them really. It makes them more independent when it comes to a farmout, as they would have enough money to drill another well , and hopefully continue on from there
I thought the Phoenix article was very upbeat as well. I suppose the low oil price is sucking the confident out of the share price, but historically the price always seems to come back in about six months. In one way it is in none of the oil producers interests to be selling their product at half price.
It was published in the Christmas edition of The Phoenix magazine that came out a couple of weeks ago. It is a Irish magazine that comes out every fortnight
Something to cheer ourselves up with Tony O’Reilly’s Providence Resources group too has been unfortunate in that the failure of Exxon in its $200m drill in the deep sea Sub Porcupine Basin – in which Providence has 16% carried interest – infl uenced investment sentiment unduly. It could be, however, that the upcoming drilling at Spanish Point early next year will change this and bring some real excitement back into the Irish offshore sector. This well will be drilled by Cairn Energy into a fi eld which has already been drilled and with the advantage of modern 3D seismic surveys, the risk factor is far lower. This increases the probability of success in proving up the identifi ed 200 million barrels of recoverable oil in this prospect. Besides this, Providence is sitting on an 80% stake in the giant Barryroe one billion barrel oil discovery, which was proven up 18 months ago. This has yet to attract a development partner and the recent drop in oil prices has not helped. Nevertheless, the prospect is a really big one and will one day deliver huge returns. The only question is who will be cashing in when this happens. Providence’s 20% partner in Barryroe, Steve Boldy’s Lansdowne Oil & Gas, has likewise suffered badly from the ongoing delays in fi nding a big development partner for Barryroe, but as Barryroe is potentially worth billions, for those who can hold on here there will eventually be huge returns, giving both Lansdowne and Providence serious upside potential.
Hopefully we will be looking at the Irish sailing team in the next Olympics and feeling happy about it.
You are right. That this stage a bad deal would be the end of things really. We would have to wait too long for any other news to come along
Really best of luck to Offerman. I hope it pays off for you, if you does, you will be a millionaire
I suppose it goes to show how important and real the gas deals are to the country and how much money is at stake, that these guys tried to get some for themselves. It is good news really for all the gas companies.