Tanzania - Songo Songo Petroleum Exploration Project
Leechor, Chad | Kohli, Harinder | Hur, Sujin
The Songo-Songo Petroleum Exploration Project is intended to finance the first phase of a drilling program designed to assist the Borrower in the assessment of the hydrocarbon potential of the Songo-Songo field area and to strengthen the capability of MWEM in the energy sector. Specifically, the credit will finance: (a) drilling of two wells (one on-shore and one off-shore) at the Songo-Songo field area out of a required four well drilling program; (b) strengthening MWEM's capability in energy sector planning and policy formulation; and (c) strengthening TPDC's capacity to implement the project through the provision of technical assistance and training of its staff. If oil is found to be present in sufficient quantities to warrant development, the ensuing production will be extremely beneficial to Tanzania in reducing petroleum imports and associated foreign exchange costs.
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