Chinese major eyes Tanzania deep-water play with floating LNG potential

China’s CNOOC International is close to wrapping up a deal to secure stakes in two deep-water blocks offshore Tanzania which, if gas discoveries are made, have potential to host floating liquefied natural gas vessels.

State-owned Tanzanian Petroleum Development Corporation (TPDC) has been looking for a partner to come into blocks 4/1B and 4/1C in the gas-rich Rovuma basin for eight years.

But a lack of interest in Tanzania’s upstream sector under the presidency of the late John Magufuli, due to his wariness of the private sector, stifled the chances of doing deals, with many companies relinquishing acreage.