TANZANIA OFFSHORE GAS: 216 MB

Norwegian oil company Statoil ASA ( STO ) said Tuesday that with its partner ExxonMobil Corp. ( XOM ) it has discovered 1.2 trillion cubic feet of natural gas, or 216 million barrels of oil equivalent, in the Giligiliani-1 well offshore Tanzania, the joint venture's seventh discovery in the block 2 area.

"This discovery has proven the gas play extends into the western part of block 2, which opens additional prospects," said Nick Maden, senior vice president for Statoil's exploration activities in the Western Hemisphere. "Our success rate in Tanzania has been high."

Statoil is the operator of the block 2 license, on behalf of the Tanzania Petroleum Development Corporation, with a 65% working interest. ExxonMobil holds 35%.

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